Tej Ash Acquires Development Site In Fontana For $8.5M

Tej Ash has acquired a development site located at 16611 South Highland Avenue in Fontana. The property spans an area of 441,000 square feet and was sold for a price of $8,494,000, resulting in a price per square foot of $19. The seller, Tom Chad, agreed to the transaction facilitated by broker Arian Zerehi from Commercial Brokers International. The asking price for the property was initially set at $8,810,000.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $8,494,000
• Address: 16611 South Highland Avenue, Fontana
• Market: Fontana
• Buyer: Tej Ash
• Seller: Tom Chad
• Broker: Arian Zerehi - Commercial Brokers International
• Square Footage: 441,000
• Price Per Square Foot: $19

Tej Ash successfully acquired the development site from Tom Chad in a deal facilitated by Arian Zerehi of Commercial Brokers International. The transaction closed at a sale price of $8,494,000, meeting the seller's asking price. This acquisition presents an opportunity for Tej Ash to further expand their real estate portfolio in Fontana.