Arete Venture Partners Acquires Pomona East Commerce Center From SoCal Industrial LLC For $15M

The property involved in this transaction is an industrial asset located at 310-380 South East End Avenue & 1605 & 1649 Mission Boulevard in Pomona, CA. The transaction was completed for a total sale price of $15,000,000. The asset encompasses 4.34 acres and features a total square footage of 78,200, which breaks down to a price per square foot of $192.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $15,000,000
• Square Footage: 78,200
• Price per Square Foot: $192
• Address: 310-380 South East End Avenue & 1605 & 1649 Mission Boulevard
• Market: Pomona
• Buyer: Arete Venture Partners
• Seller: SoCal Industrial LLC, Birtcher Anderson Davis & Assoc. & Belay Investment Group
• Brokers: Anthony DeLorenzo, Barbara Perrier, Eric Cox, Gerard Poutier & Mark Shaffer - CBRE

Arete Venture Partners has acquired the Pomona East Commerce Center, which consists of six buildings. This acquisition underscores the current market trend showcasing strong demand for small bay industrial assets, appealing to private capital and 1031 exchange investors.