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JV Pays $9.1M for Fontana Land

A joint venture between The Bascom Group LLC and Real Estate Development Associates has purchased 16.9 acres of industrial land at 11100 Hemlock Ave. in Fontana, CA from JM Eagle, a manufacturing company, for $9.07 million, or about $537,000 per acre.

The buyer has plans to build an industrial and distribution building totaling 350,000 square feet sometime next year. The unimproved land is located in the Airport Area submarket, and was level cleared…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/JV-Pays-$91M-for-Fontana-Land/153450?ref=/News/Article/JV-Pays-$91M-for-Fontana-Land/153450&src=rss

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