CHINO, CA-Xebec Realty Partners purchased 16.3 acres of industrial land at 6185 Kimball Ave. here. The company plans to develop an approximately 350,000-square-foot distribution facility on the property.
Dan Vittone, Al Pekarcik, and Nick Frasco of Newport Beach, based-Voit Real Estate Services’ Irvine office, in addition to Paul Earnhart and Steve Haston of Lee & Associates, represented both the buyer and seller. Voit tells GlobeSt.com that it cannot disclose the purchase price of the land or the construction cost of the facility at this time.
According to Voit, this represents one of the largest land transactions in the West Inland Empire and is a very positive sign in the marketplace. “The property is located in the heart of the West Inland Empire’s most vibrant submarket, close to the 60, 57, 71 and 91 Freeways, which makes it the premier location for business and distribution,” says Dan Vittone, senior vice president of Voit’s Irvine office.
This will be Xebec’s fourth development in Chino within the past five years. In addition, this marks the third in-fill Los Angeles transaction Xebec has completed this summer.
“We will continue to seek out in-fill Los Angeles & the West Inland Empire acquisition opportunities,” says Neil Mishurda of Xebec Realty Partners. “The configuration and location of this property make it unique and ideal for large distribution users.”
In other Xebec news, as GlobeSt.com recently reported, it will also be developing a new 11,000-square-foot office building at Xebec’s 27-acre Pacific Trade Center to be occupied by the California Department of Motor Vehicles under a 20-year lease.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
