An investment group, 10721 Jasmine LLC, bought the industrial property at 10721 Jasmine St. in Fontana, CA from a joint venture between BlackRidge Real Estate Group LLC and American Realty Advisors. The buyer executed a long-term lease to home furnishings retailer, Anna's Linens. Reports valued the transaction at around $25 million, or $62 per square foot.
Built in 1990, the distribution facility totals 402,539 square feet on 17.5 acres of land located at the southeast of Slover Ave. & Etiwanda Ave. in the Airport Area submarket of San Bernardino County.
Steve Bellitti, Tom Taylor and Summer Coulter of Colliers International represented the seller. Jeff Cannon and Paul Jones of Studley represented the buyer.
Link to article