Fully leased industrial property in Fontana, CA sold for $70.1M
JLL Capital Markets facilitates sale of 13201 Dahlia St., a prime industrial asset in Inland Empire West
LOS ANGELES, Oct. 21, 2024 – JLL Capital Markets announced today the $70.1 million sale of a fully leased 278,650-square-foot industrial property located at 13201 Dahlia St. in Fontana, California.
JLL facilitated the transaction between the seller and the acquirer, Rexford Industrial.
The cross-dock industrial facility, constructed in 1989, features a 30-foot clear height, 59 dock high and four grade level doors. The property was fully leased to a credit tenant at time of sale. The building benefits from immediate logistical access to the nation’s most critical supply chain infrastructure and Southern California’s population of over 25 million people.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Mark Detmer and Senior Director Evan Moran along with Senior Managing Director Patrick Nally. The JLL Inland Empire Markets team was spearheaded by Managing Director Hunter McDonald, Executive Managing Director Mike McCrary, Senior Managing Directors Jeff Bellitti and Ruben Goodsell.
“The property's strategic location, unique functionality and full occupancy at a market rate made it an attractive investment opportunity in one of the nation's most competitive industrial markets,” said Detmer.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial's high-quality, irreplaceable portfolio comprises 422 properties with approximately 49.5 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit www.rexfordindustrial.com.