Realterm acquires sizeable, secured storage facility in Inland Empire

Realterm announces it has acquired 1408 E. Franklin Avenue in Pomona, Calif., an 8.19-acre secured storage facility that offers 206 trailer stalls. The fully lit, secured and paved property also has a 5,648-square-foot office building and a 4,000-square-foot shop building.

"The Inland Empire remains a top national submarket and one of the most supply constrained in Southern California," TJ Cameron, Associate Vice President, West Region Acquisitions, Realterm. "As a result, the demand is strong for large, secure storage yards such as 1408 E. Franklin Avenue and in a market where rents are on the rise."

According to a recent Colliers market report, the vacancy rate in the Inland Empire is only 1.1 percent and asking rents have doubled in the past 24 months. 1408 E. Franklin Avenue offers easy access to the densely populated region via CA-60, CA-71 and I-10.

"This property has key differentiating factors. It is entitled for truck and trailer storage, it is larger than five acres and it offers superior freeway accessibility," said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. "It is ideally situated to service the concentrated user pocket of the entire Inland Empire market where it is difficult to find large, entitled and available secured storage facilities. This is an excellent addition to our growing portfolio of properties in Southern California."

Highlights:

• Land area: 8.19 acres
• Square feet: 5,648 SF office building and 4,000 SF shop building
• Access: CA-60, CA-71, I-10 and Ontario International Airport

The deal was brokered by Jace Gan of Colliers International.