Adjacent Montclair Properties Can Be Leased Together or Individually
MONTCLAIR, CA (August 14, 2023)—Industrial Outdoor Ventures (IOV) has acquired its 18th asset in the Inland Empire, the 2.61-acre, two-building, 19,824-square-foot industrial service facility (ISF) at 5621 State Street in Montclair, CA. It also represents IOV’s fourth ISF acquisition on a popular, well-located stretch of State Street.
“We’re thrilled to have officially closed on this as it’s directly adjacent to our late 2022 acquisition of 5551 State St.,” said Anthony DeLaurentis, Acquisitions Officer, Industrial Outdoor Ventures. “This assemblage allows us the flexibility to market individually or as 7.61 contiguous acres with more than 40,000 square feet of buildings. Specs like that are virtually nonexistent in the Inland Empire.”
The property, which served as an equipment maintenance facility for a construction company, is currently vacant. The east building is the largest of the on-site improvements at 10,589 square feet. The west building totals 9,235 square feet.
In addition to standard improvements to enhance the marketing appeal of the property, IOV will replace all eight grade-level doors, complete yard surface maintenance to the asphalt and crushed stone surfaces, and install new exterior fencing and LED lighting, as necessary.
IOV’s newest acquisition, along with the balance of its Montclair portfolio, benefits from close proximity to I-10 and Ontario International Airport.
Mat Skogebo and Ryan Turnquist, both with Lee & Associates, represented IOV in the transaction and will be marketing the property for lease. The brokerage team is leasing IOV’s three other Montclair properties: 5551 State St., 5 acres with 20,382 square feet of space; 4237-4253 State St., 3.16 acres with 25,000 square feet of space; and 4187 State St., 0.83 acres with 12,000 square feet of building space.
Barret Woods with Lee & Associates represented the seller, Kobold Construction.
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