Molto Properties is excited to announce closing on its third transaction since July 2018 in California’s Inland Empire an industrial market outside of Los Angeles. Molto has acquired an 8.50-acre land site for the development of a 190,554 square foot Class A speculative industrial building located at Slover Avenue and Cypress Avenue in Fontana. The building will feature 36’ clear height, modern LED lighting and an ESFR fire protecting sprinkler system.
The Inland Empire Western sunmarket consist of approximately 298 million square feet industrial space representing 19.21% of the total industrial space in the Greater Los Angeles area. The submarket and is highly desirable to distributors yet lengthy entitlement periods makes it difficult for developers to keep up with the demand. Molto has partnered again with LDC Industrial Realty to obtain these entitlements.
“The Western submarket of the Inland Empire continues to be one of the strongest submarkets in the US and we believe in the continued demand from tenants. We are excited to increase our exposure into this dynamic market,” said Mike Powers, Senior Principal of Molto Properties.
Industrial real estate specialist Kevin McKenna of Colliers International will lead the leasing efforts for of this project at Slover Gateway Commerce Center in Fontana.