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COLTON, CALIF. — Ashley Furniture Industries Inc. has acquired two industrial buildings in Colton. The transaction consisted of a 312,000-square-foot building and a 127,000-square-foot facility situated on 19.3 acres in the Cooley Ranch Industrial Park.

“This transaction is one of the largest user-sale transactions in Southern California this year,” says Rick John, senior vice president of Ontario, Calif.-based Collins Commercial, which represented the buyer.

Aaron Hodgdon, president of The Hodgdon Group, which also represented the buyer, notes that the acquisition will be an addition to Ashley Furniture Industries’ warehouse and manufacturing operation. The acquisition expands the company’s campus to approximately 1.4 million square feet.

Gardena, Calif.-based Overton Moore Properties sold the assets for an undisclosed price. David Consani and Jim Koenig of CB Richard Ellis’ Ontario office represented the seller in the transaction. The acquisition price was not disclosed.

The Hodgdon Group has represented Ashley Furniture Industries for the last 10 years on the development, purchase and leasing of more than 2 million square feet of industrial and manufacturing space. Additionally, the company is the exclusive representative for the Ashley Furniture Home Stores for retail real estate.

— Amy Bigley

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