RANCHO CUCAMONGA, CALIF. — TH Real Estate, an affiliate of Nuveen, has completed the sale of an industrial warehouse located at 9050 Hermosa Ave. in Rancho Cucamonga. Deutsche Wealth Services acquired the property for $68.9 million, or $147.11 per square foot.
Built in 2004 on a 20-acre site, the freestanding, cross-docked property features 468,682 square feet of Class A industrial space. The asset offers fully-secured concrete truck courts, gate-controlled drive-around access, an ESFR sprinkler system, 104 dock-high and four ground-level loading doors and heavy power. Ingram Micro, a distributor of information technology products, fully occupies the property.
Jeffrey Cole, Jeff Chiate, Mike Adey and Ed Hernandez from Cushman & Wakefield’s Capital Markets Group brokered the transaction. Chuck Belden and Phil Lombardo of Cushman & Wakefield, along with Mike McCrary and Peter McWilliams of JLL, served as market advisors.