GLP Capital Partners Acquires Industrial Warehouse In Ontario For $57.3M

GLP Capital Partners acquired a 116,800 sq ft warehouse in Ontario, California, for $57.3 million. The property is located at 1925 South Grove Avenue in the Ontario market. The sale price of $57.3 million translates to a price per square foot of $491. This transaction surpasses the average sale price in the Inland Empire.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $57,300,000
• Square Footage: 116,800 sq ft
• Address: 1925 South Grove Avenue, Ontario, California
• Market: Ontario

GLP Capital Partners, led by Alan Yang, acted as the buyer in this transaction. The seller was Penwood Real Estate Investment Management. The Ontario region has attracted industrial developers, with notable acquisitions by Blackstone and Real Estate Development Associates.