The two-building property encompasses 80,000 sf. Built in 1988 and 1989, the facilities are approximately 85% occupied. Tenants include Wadell & Reed, the San Bernardino Credit Union, Farmers Insurance and Washington Mutual. The complex stands at 9227 and 9267 Haven Avenue, close to Ontario International Airport and Ontario Mills.
"It has a great location within the Ontario and Rancho Cucamonga market," says Steve Economos, a broker who worked on the deal. "It (the property) provided a good return to the buyer, yet there was also a value-add component," he adds.
Steve Economos and George Economos of NAI Capital Commercial represented the seller, Athalon Properties of Rancho Cucamonga. The buyer, locally based Rancho Pacific Development, was represented by Bruce Ann Hahn of Prudential.
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