Alterra Property Group, based in Philadelphia, has recently acquired a strategically located industrial property at 1369-1379 W. 9th St. in Upland. The deal marks Alterra’s expansion into the Inland Empire region and was spearheaded by Matt McNutt, VP of acquisitions.
The property spans over 4.5 acres and includes three buildings with a total of 18,100 square feet of usable space. Daum Commercial facilitated the deal for undisclosed terms.
Alterra plans to improve the property by upgrading paving, landscaping and fencing as well as refreshing the onsite buildings with new roof systems to attract potential tenants. With strong demand from active IOS requirements along the corridor on 9th St., Alterra anticipates high interest from tenants.
According to McNutt,”We are actively pursuing opportunities in this market and are optimistic about what we have seen so far.” He also added that they look forward to leasing this newly acquired property.
