Colliers International VP Patrick Barnes tells us industrial space is tight in the Inland Empire, especially among smaller, multi-tenant industrial properties that cater to incubator businesses. And investors have noticed, as Patrick (the tallest one, in the middle), along with GM Properties’ Jason Jamison and Dustin Wheelan, recently repped McLellan Estate Co in its sale of the 54k SF Airport Wineville Business Park to Newport Beach-based Wohl Investment Co.
"It's an increasingly hard to find product type in Southern California," Patrick says, and it generated more than 10 qualified offers from local and regional buyers. Built in phases between 1988 and 1990 to accommodate 43 individual tenants, the four-building multi-tenant incubator park is 95% occupied, demonstrating what Patrick calls the “stable occupancy” for such space in the Inland Empire West submarket. The park is located at 5140 Airport Dr and 151-181-201 S Wineville Ave, about two miles from Ontario International Airport.
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