An industrial and office building in the Inland Empire has traded hands for $57 million.
Santa Fe Springs-based investment and management firm Orden Company bought the nearly 257,000-square-foot warehouse and office property at 875 West State Street in Ontario, L.A. Business First reported. The seller was Rancho Cucamonga-based real estate developer IHC State LLC.
Daum Commercial Real Estate Services facilitated the sale. Agents Eric Fikse and Eric Burney represented the seller and Fikse also procured the buyer. IHC State was “seeking a buyer that could assume the existing debt, despite a lockout provision and prepayment hurdles,” Fikse said in a statement, per L.A. Business First.
The building at 875 West State Street is fully occupied and features 51 dock-high doors, two grade-level doors and 2,000 amps of power. The property is located approximately an hour away from Los Angeles International Airport and the Ports of Los Angeles and Long Beach.
The Inland Empire industrial market has been on shaky ground amid a slow post-pandemic recovery. In the third quarter of 2025, the Inland Empire West industrial submarket had a nearly 7.7 percent overall vacancy rate, per Daum data cited by L.A. Business First. By contrast, the Greater Los Angeles industrial market had a 5 percent vacancy rate in the same period, according to CBRE’s third-quarter report. Transaction volume reached $547.2 million in the third quarter with a median price per square foot of $275. “Many property owners are holding off on selling until the market strengthens,” Burney said in a statement.
Bridge Logistics Properties is one company not shying away from the I.E. industrial market. In November, the firm bought a 1.1-million-square-foot warehouse at 10681 Production Avenue in Fontana for $174 million, or $158 per square foot. It was one of the priciest transactions for an Inland Empire facility in 2025, dwarfed by Burlington Distribution’s purchase of a 900,000-square-foot Riverside distribution center from BlackRock last April for $257 million, or $286 per square foot. — Chris Malone Méndez
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