{"id":1004243915,"date":"2018-07-19T07:22:36","date_gmt":"2018-07-19T15:22:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004243915"},"modified":"2022-12-07T15:41:28","modified_gmt":"2022-12-07T23:41:28","slug":"inland-empire-business-park-trades-for-14m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-empire-business-park-trades-for-14m\/","title":{"rendered":"Inland Empire Business Park Trades for $14M"},"content":{"rendered":"<p>By Timea Matyas<\/p>\n<div id=\"attachment_1004243918\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004243918\" data-attachment-id=\"1004243918\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inland-empire-business-park-trades-for-14m\/montclair-business-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg\" data-orig-size=\"1705,1280\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;9.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark IV&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1515245720&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.0055555555555556&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Montclair Business Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Montclair Business Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg?w=1024\" class=\"wp-image-1004243918 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg\" alt=\"Montclair Business Center\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg 1705w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg?resize=1024,769 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg?resize=1536,1153 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004243918\" class=\"wp-caption-text\">Montclair Business Center<\/p><\/div>\n<p>Avison Young has brokered the sale of Montclair Business Center, a 96,363-square-foot, multi-tenant business park in Montclair, Calif. Trico Yale Business Park has purchased the asset for $13.7 million. The previous owner, Holualoa Montclair Business Center, recently invested in major upgrades including exterior paint work, landscaping, and the replacement of several roofs. The asset was 92 percent occupied at the time of the transaction. Lessees include 42 light-industrial, office and retail tenants.<\/p>\n<p>Located at 4650 Arrow Highway, Montclair Business Center is west of the North Montclair Downtown Redevelopment Area. It is within 3 miles of Interstate 10 and the nearby Arrow Highway is a major thoroughfare of Montclair, as well as other neighboring cities. Completed in 1980, the property comprises seven buildings on more than six acres of land. Property features include on-site parking.<\/p>\n<p>Avison Young Principal Alan Pekarcik and Senior Associate Chris Smith, both based in the company\u2019s Irvine office, represented the seller in the transaction. The buyer, who plans to continue utilizing the asset as a multi-tenant business park, was self-represented.<\/p>\n<p><em>\u201cThe Montclair Business Center is advantageously positioned in the Inland Empire, one of the hottest industrial investment markets in the nation,\u201d<\/em> Pekarcik said, in a prepared statement.<\/p>\n<p>Earlier this month, Parmenter Realty Partners appointed Avison Young to oversee the <a href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-lands-atlanta-leasing-assignment\/\">leasing of a 207,291-square-foot office building<\/a> in Atlanta\u2019s Central Perimeter submarket.<\/p>\n<p><em>Image courtesy of Avison Young<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tenants at Montclair Business Center include 42 light-industrial, office and retail businesses. New owner Trico Yale Business Park is planning to continue utilizing the asset as a multi-tenant business park.<\/p>\n","protected":false},"author":1274,"featured_media":1004243918,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,34027,21783,21752,21742,15],"tags":[41234,33022],"class_list":["post-1004243915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-inland-empire","category-investment","category-mixed-use","category-latest","category-west","tag-alan-pekarcik","tag-avison-young"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inland Empire Business Park Trades for $14M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inland-empire-business-park-trades-for-14m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Empire Business Park Trades for $14M\" \/>\n<meta property=\"og:description\" content=\"Tenants at Montclair Business Center include 42 light-industrial, office and retail businesses. New owner Trico Yale Business Park is planning to continue utilizing the asset as a multi-tenant business park.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-empire-business-park-trades-for-14m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-19T15:22:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T23:41:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Montclair-Business-Center-e1531993947976.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1705\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea Matyas\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/\"},\"author\":{\"name\":\"Timea Matyas\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d364eed718d001d2f28b9e07694ebfc2\"},\"headline\":\"Inland Empire Business Park Trades for $14M\",\"datePublished\":\"2018-07-19T15:22:36+00:00\",\"dateModified\":\"2022-12-07T23:41:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/\"},\"wordCount\":243,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/07\\\/Montclair-Business-Center-e1531993947976.jpg\",\"keywords\":[\"Alan Pekarcik\",\"Avison Young\"],\"articleSection\":[\"Deals\",\"Inland Empire\",\"Investment\",\"Mixed Use\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-empire-business-park-trades-for-14m\\\/\",\"name\":\"Inland Empire Business Park Trades for $14M - 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