CBRE Negotiated the Sale of the Pomona East Commerce Center

CBRE facilitated the sale of Pomona East Commerce Center, a six-building industrial center in Pomona, Calif. Arete Venture Partners purchased the property.

CBRE Investment Properties' Mark Shaffer, Anthony DeLorenzo and Gerard Poutier, along with CBRE's National Partners Barbara Perrier and Eric Cox, represented the seller, SoCal Industrial LLC—a joint venture of Birtcher Anderson Davis & Associates and Belay Investment Group—in the transaction.

"Small bay industrial continues to attract strong demand from private capital and 1031 exchange investors due to the ability to roll short-term leases to market and continued strong underlying industrial market fundamentals promoting stable cash flow," said Shaffer, senior vice president at CBRE.

The six buildings, which total 78,200 sq. ft., are situated on 4.34 acres. Each features at least 14 feet of clear height and at least one grade-level door. At the time of sale, the building was 92% occupied with 42 tenants.

"This represented a great opportunity to buy multi-tenant product far below replacement cost and impossible to recreate today," added Cox, senior vice president at CBRE.

The property is in northeast Pomona at 310-380 South East End Avenue and 1605 and 1649 Mission Blvd. It offers convenient access to Interstate 10 and State Route 71.