RANCHO CUCAMONGA INDUSTRIAL PROPERTY SELLS FOR $9M

RANCHO CUCAMONGA, CALIF. – A 138,595-square-foot industrial property in Rancho Cucamonga has sold to CT Realty Investors for $9 million. The property is located at 10401 Seventh Street. The seller, Waitex International, will lease back the property. The rate and terms of that lease were not disclosed. CT’s newest acquisition is attached to a 177,550-square-foot building that was purchased by the firm last year. That property is located at 10404 Sixth Street and is fully leased to GiTi Tire USA Ltd. CT plans to redevelop both properties once Waitex’s lease expires. GiTi has agreed to a new long-term lease for both buildings that will commence once the renovations are completed. Jamie Harrison of Lee & Associates Investment Services Group in Los Angeles represented both the buyer and the seller in this transaction.