Lee & Associates Closes Sale of Six-Building $13,350,000 Industrial Portfolio

 
CLAREMONT, Calif. - March 10, 2021 - PRLog -- CLAREMONT, CA —The Investment Services Group (ISG) of Lee & Associates, the largest broker-owned commercial real estate firm in North America, has negotiated a $13.35 million sale of an approximately 69,500 square foot industrial park located in Claremont, California, located at the eastern end of Los Angeles County and borders the cities of Upland and Montclair in San Bernardino County, and geographically located in the Pomona Valley.

Known as Claremont Business Park, the property includes six separate industrial buildings located at 240-260 S. York Place, 700 W. Wharton Drive, and 759 W. Arrow Highway, in a prime location directly between the 10 and 210 freeways, both major transportation arteries.

Matthew Sullivan, managing director and principal, and Shane Hariz, senior investment advisor, of Lee & Associates - Investment Services Group, the investment advisory arm of the company, exclusively represented the buyer on this transaction, a private family office. Lee A McCullough, first vice president of Colliers International represented the seller, which was a private family partnership.

"As an off-market transaction, this property has a great deal of potential for future growth. It is currently 100% leased but each building is separately parceled which could be sold individually at a later date," said Sullivan.

Located 30 miles east of downtown Los Angeles, Claremont is the home of Claremont Colleges and several other educational institutions. The property, which stretches between Wharton and Arrow Streets, will also be near the Metro Gold Line when it is completed in 2026.

The property is 100% occupied with uses ranging from electrical connectors, controls, and cable engineering to 3D visualization and display house manufacturing.

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About Lee & Associates Investment Services Group, Inc.
Lee & Associates Investment Services Group, Inc. is the investment advisory arm of Lee & Associates. Founded in 2008, the Investment Services Group is a real estate firm that leverages the Lee & Associates national platform for the benefit of its clients. Celebrating more than 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations throughout the U.S. and Canada including Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Maryland, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates – Investment Services Group visit www.Lee-isg.com or www.lee-associates.com or follow us on Facebook (https://www.facebook.com/LeeAssociatesCRE), and LinkedIn (https://www.linkedin.com/company/lee-and-associates/).

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Location:Claremont - California - United States
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