LBA Realty Acquires Newcastle Slover Logistics Industrial Property In Fontana For $37M

LBA Realty has acquired Newcastle Slover Logistics, a 95,600-square-foot industrial property located at 16355 Slover Avenue in Fontana. The property sits on 4.6 acres of land. The sale price for this transaction was $37,000,000, resulting in a price per square foot of $387. This acquisition highlights the continued strong demand for industrial properties in the Inland Empire market.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $37,000,000
• Square Footage: 95,600
• Market: Fontana
• Acres: 4.6

Leading the deal for LBA Realty was Phil Belling. Belling represented LBA Realty as their broker in this transaction. On the other side, the seller, Newcastle Partners, was represented by their broker's representative. The Inland Empire has been a highly active market in the industrial sector, with sales volume reaching $2.44 billion in the first half of 2023.