Construction of this speculative 352,000 SF, Class A bulk distribution center was completed in May 2015. On June 30th, it was sold to Northwestern Mutual for $29.8 million. The industrial building was owned and developed by a joint-venture partnership between an affiliate of Westminster Capital (90%) and Real Estate Development Associates (10%). Fontana is located within the Inland Empire’s West submarket with a QI 2015 Vacancy Rate of 3.0%.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital. Founded in 1988, the firm is headquartered in Lake Forest, Illinois. Private client work includes leadership of closed-end investment fund and separate account portfolios totaling approximately $700 million of investor capital. Westminster Capital oversees commercial property investments throughout the United States across several property types and investment risk-reward profiles.