FONTANA, CA (August 31, 2021) – Industrial Outdoor Ventures (IOV), the first national real estate investor focused exclusively on outdoor storage facilities, announced the acquisition of its fifth property in the Inland Empire. IOV acquired a warehouse and material storage yard located at 10820 Hemlock Ave, Fontana, CA, for an undisclosed price.
Zoned Heavy Industrial, the property is 6.60 acres and includes a 43,560-square-foot warehouse/crane building with a 2,000-square-foot office, maintenance facility and a yard comprised of asphalt and crushed stone. The property is situated near Interstates 10 and 15 and is only 7.5 miles to Ontario International Airport. Two Union Pacific rail spurs actively serve the building.
The property is fully leased to Pacific Steel Group, a leading independent reinforcing steel fabricator and placer with an office in the western United States.
“The level of competition and demand in the Inland Empire is unmatched,” said IOV’s Anthony DeLaurentis. “The location, heavy zoning and versatility caught our interest immediately, especially in this market. We’re thrilled to acquire the facility and look forward to growing our relationship with Pacific Steel Group.”
The 10820 Hemlock Avenue property joins IOV’s growing portfolio of fully leased outdoor storage facilities in the Inland Empire, including 2650 S. La Cadena Dr, Colton, CA; 2353 S. Cactus Ave, Rialto, CA; 1512 S. Bon View Ave, Ontario, CA; and 8616 Cherry Ave, Fontana, CA.
Industrial Service Facilities (ISF) are low coverage, mission critical facilities that are used to support supply chains in the storage, maintenance and dispatch of equipment and/or bulk material. They are primarily used by the transportation, e-commerce, construction, construction material and utility industries.
IOV is one of the most active buyers of real estate in the U.S. The firm seeks to acquire $250 million in assets over the next 12 to 24 months – with a five-year plan to amass more than $1 billion in product type. Its portfolio currently spans the U.S. with properties in major markets such as Atlanta, Denver, Dallas, Chicago and Southern California – among others.
Lee & Associates facilitated the transaction.
ERIC JOHNSON
Vice President of Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
ANTHONY DELAURENTIS
Acquisitions Officer
Phone: 847.595.0263
Email: anthony@iovre.com