Inland Empire Office Building Sold for $4.3M
18 Oct, 2011, Irvine, Calif.
Cushman & Wakefield today announced the sale of Milliken Point at Empire Lakes, a one-story office building totaling 25,939 square feet located in Rancho Cucamonga, CA, within minutes of the Ontario Mills Mall. The sale, from The Lindsay Group to Fadco Enterprises, garnered $4.3 million or $166 per square foot.
Ed Hernandez, director of C&W's Capital Markets Group, led the transaction team. Hernandez said, "This strong price per square foot is due to the desirable location, newer high-quality construction and limited near-term risk associated with credit tenants."
Brokerage team members included: Hernandez, Kyle Kehner and Jeffrey Cole of C&W representing The Lindsay Group. Eileen Schuler and Suzanne Schuler of Schuler Commercial represented the buyer. C&W has been associated with this property since its inception, with Kyle Kehner representing The Lindsay Group in the purchase of the site in 2003.
The Lindsay Group develops, builds and manages commercial real estate assets for clients, tenants and on their own behalf. The company is comprised of seasoned professionals dedicated to putting client relationships first and valuing honesty, integrity and quality. More information about The Lindsay Group can be found at www.lindsaygroup.com.