(Read more on the industrial market.)

FONTANA, CA-Furniture company Hua Jian Investments LLC has acquired a 406,410-sf industrial building at 7351 McGuire Ave. from the San Francisco-based Bristol Group for $95 per sf, or approximately $38.6 million. The buyer, a wood flooring and furniture company, intends to occupy the building as an owner-user.

The building previously had been occupied by the same tenant for 15 years, but the tenant had outgrown the space and relocated to a larger facility. The Bristol Group then spent approximately $1.6 million to fully refurbish the property and was offering the building for lease or sale.

The building is a cross-docked facility with deep truck courts and a large, secured, drive-around yard accommodating parking and storage of up to 156 additional truck trailers. The site is close to the Interstate 15 and Interstate 10 freeways.