UBS Realty buys Pomona development site for $32M

Industrial property in San Gabriel Valley spans 16 acres

TRD LOS ANGELES /
Jan.January 17, 2019 04:16 PM
CBRE listing agent Jason Chao and 1400 E. Phillips Boulevard in Pomona (Credit: Google Maps)

Another large development site has traded hands in the industrial-filled San Gabriel Valley.

A fund tied to UBS Realty purchased a 15.9-acre site in Pomona for $32 million, The Real Deal has learned. The property at 1400 E. Phillips Boulevard has two buildings on it totaling 49,800 square feet. They are 100-percent leased to Frontier Communications through 2029.

Overton Moore Properties was the seller, according to records. They acted through an entity named FLP Pomona, LLC. Overton Moore bought the property from Frontier Communities in 2017 in $12.6 million.

Pomona is located in the San Gabriel Valley, between Los Angeles and the Inland Empire. Vacancy rates for industrial properties in San Gabriel are at 1.2 percent, according to CBRE. In August, Duke Realty, a real estate investment trust, purchased a 25.5-acre property there for $62.5 million.

UBS Realty notched L.A. County’s biggest office investment sale last May when it sold the Corporate Center Pasadena to Coretrust Capital for $260 million. In August, the firm also provided a five-year loan to help Developer Fifteen Group refinance its 1,175-unit Wyvernwood Garden Apartments in Boyle Heights.


Related Articles

arrow_forward_ios
Golden Springs Business Center

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
Daniel J. Moore and the site (Credit: Rockefeller Group)

Rockefeller Group snags Inland Empire site for logistics centers

Rockefeller Group snags Inland Empire site for logistics centers
Chris DeWitt, and the property (Credit: Google Maps)

Made Goods furniture wholesaler inks giant lease in City of Industry

Made Goods furniture wholesaler inks giant lease in City of Industry
Michael Flood and the warehouse (Credit: Google Maps)

LA Food Banks pays $52M for warehouse, ending long search

LA Food Banks pays $52M for warehouse, ending long search
Brett Dedeaux and the property (Credit: Dedeaux Properties and DB&R Marketing Communications via Commercial Observer)

Dedeaux, Stockbridge boost industrial portfolio

Dedeaux, Stockbridge boost industrial portfolio
(iStock)

SoCal developers say demand for office, retail space will continue to drop

SoCal developers say demand for office, retail space will continue to drop
Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA)

The Inland Empire’s booming logistics industry is a double-edge sword

The Inland Empire’s booming logistics industry is a double-edge sword
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...