A 16-acre Ontario, Calif. office campus has sold for $52 million. The Hileman Co. and partner Pacific Coast Capital Partners bought the Class-A master planned office park from The Trenton Group.
The complex consists of two fully leased office buildings known as University Plaza and Sterling Center. The two properties have a combined 175,000 sq. ft. of rentable office space, plus nearly eight acres of entitled land.
“I have seen every development site and opportunity in this market over the past two years, and this is by far the best,” says Jack Hileman, founding partner and president of The Hileman Co. “We intend to move aggressively with this project and add value by continuing the development program already in place.”
Hileman is currently completing HavenPark, a $60 million mixed-use project in nearby Rancho Cucamonga. The company will invest “significant” capital to rebrand and market their new acquisition. HavenPark will also be renamed Waterside Center.