SAN DIMAS, CALIF. — Newport Beach-based RanchHarbor and Los Angeles-based Manhattan West have partnered to purchase a multi-tenant industrial warehouse property located at 221-299 Allen Ave. and 906-924 Cataract Ave. in San Dimas. Terms of the transaction were not released.
Situated on five acres, the value-add asset includes four individual buildings encompassing 91,000 rentable square feet across 44 individual suites. At the time of sale, the property was 98 percent occupied.
The property’s four concrete tilt-up structures feature 14-foot to 18-foot clear heights and 44 ground-level doors. Unit sizes range from 1,232 square feet to 6,250 square feet. The property was originally built in 1979 and renovated in 2005. The buyers plan to perform deferred maintenance and capital improvements to the property.
Jack Haley of Lee & Associates represented the buyer, while Todd Launchbaugh and Justin Leewood of Lee & Associates represented the undisclosed seller in the deal.