|By Marketwired .||
|January 6, 2014 08:01 PM EST||
GLENDALE, CA -- (Marketwired) -- 01/06/14 -- American Realty Advisors, a leading provider of real estate investment management services for institutional investors, announced the acquisition of two industrial properties, Arrow Center I and Arrow Center II, in Rancho Cucamonga.
Built in 1997, Arrow Center I is a Class A 210,260 square-foot modern industrial facility featuring 30' clear heights, secured truck courts, ESFR sprinklers, and T-5 lighting. The building is fully-leased to two distribution tenants, MCS Industries and Graham Packaging.
Neighbouring Arrow Center II, built in 2000, features 220,712 square feet of prime industrial space built to Class A specifications, with 30' clear height, ESFR sprinklers, T-5 lighting, and secured truck yards for tenant use. The property is 100% leased, with major tenants Home Depot and Panolam Industries.
Located in the airport area submarket of the Southern California's Inland Empire, the buildings benefit from close proximity to the Ontario International Airport, BNSF Railway Transportation, and the 10, 15, and 210 Freeways.
American's Chairman and CEO, Stanley L. Iezman, stated, "Recognized as one of the strongest distribution markets in the nation, the Inland Empire has performed well during the economic recovery and continues to experience rising rents and high occupancy. We believe the acquisition of these two industrial properties in one of the nation's top-performing industrial markets will likely generate superior returns and is consistent with the firm's commitment to enhancing our client's portfolios with strategically-located high-quality assets."
About American Realty Advisors
American is an investment advisor and a leading provider of real estate investment management services to institutional investors. With over $5.8 billion in assets under management, American has provided real estate investment management services to institutional investors for over 25 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, retail, and other properties nationwide, all of which are managed on behalf of American's clients. More information regarding American can be found at www.americanreal.com
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