Rancho Cucamonga, CA - Lee & Associates, the nation’s largest broker-owned commercial real estate services firm, brokered the $9.2 million sale of a 138,595-square-foot industrial building. Jamie Harrison, Lee & Associates Investment Services Group, represented both sides in the transaction.
According to Harrison, the buyer, CT Rancho Partners II, LLC, plans to re-lease the property to a longer term tenant after the current six-month lease expires. “The buyer recently purchased the adjacent property to this one making this an ideal asset to add to their portfolio,” he said. “With the seller, Ultimate Equity Holdings, LLC, looking to move to a larger facility, the transaction offered a win-win scenario.”
Built in 1984, the property is fully leased and located at 10401 7th Street in Rancho Cucamonga.