Exceptional Quality, Functionality and Location Define Newest Acquisition
SCHAUMBURG, IL (December 13, 2022)—Industrial Outdoor Ventures (IOV) is continuing its western expansion, acquiring its 14th Industrial Service Facility (ISF) in SoCal’s Inland Empire. The 5-acre yard is located at 5551 State Street, less than two miles from an ISF the company acquired earlier this year. Terms of the transaction with the private seller were not disclosed.
“We are very excited about 5551 State Street because of its exceptional building quality, functionality, scale, and location,” said Anthony DeLaurentis, Acquisitions Officer, IOV. “It’s a great addition to our Inland Empire portfolio.”
The latest acquisition features two buildings totaling 20,382 square feet, including a 17,685-square-foot maintenance shop with 6 drive-in service bays and a 2,697-square-foot office building. IOV will make improvements to further enhance the ISF’s marketability.
IOV’s latest acquisition is located in close proximity to Interstate 10, the primary east-west thoroughfare between Los Angeles and San Bernadino, and Ontario International Airport.
DeLaurentis was the acquisition lead for IOV. Mat Skogebo and Ryan Turnquist of Lee & Associates represented IOV and the seller in the transaction. The team will also market the ISF for lease.
Earlier this year, IOV acquired the 3.16-acre ISF at 4237-4253 State Street. It is comprised of four buildings totaling 31,637 square feet of space: a 21,299-square-foot warehouse and maintenance facility, a 3,772-square-foot garage, a 5,174-square-foot shop and a 1,392-square-foot office structure.
Skogebo and Turnquist are also marketing 4237-4253 State Street for lease.
ERIC JOHNSON
Senior Vice President, Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
ANTHONY DELAURENTIS
Acquisitions Officer
Phone: 847.595.0263
Email: anthony@iovre.com