CITY NEWS AND NOTES
West L.A. Firm Acquires Business Park In Inland Empire
West Los Angeles-based Rexford Industrial Realty, Inc., announced
it acquired Ontario Airport Business Park, a five-building
development in Ontario, Calif.
The deal, was reportedly worth about $8.55 million, or $75.26 per
Ontario Airport Business Park is located at Milliken Avenue and
Santa Ana Street near the Ontario International Airport.
According to a statement released by Rexford, the business park
was purchased via a 1031 Exchange, which is a tax-deferred
property acquisition tool. Rexford announced it used a portion of
the proceeds from the sale of Kaiser in San Diego to fund the
Ontario Airport Business Park acquisition.
The Kaiser deal was for valued at $10.1 million for an approximately
125,000 square-foot industrial complex.
Ontario Airport Business Park is more than 113,000 square feet in
size and, according to Rexford, was 95.4 percent occupied at the
time of the acquisition.
The addresses of the five buildings are 845, 855, 865 Milliken
Avenue and 4317, 4319 Santa Ana Street.
The Wind Group Expands Operations to
Western Region of United States
The Wind Group announced that they will be expanding their
operations with the addition of a new West Coast facility located in
Ontario, California. The Wind Group continues to expand to
accommodate rapid growth with a new 10,000 square foot
California-based distribution facility.
The addition of the new California warehouse provides additional
capacity and flexibility that will help the Wind Group further
optimize the service and support it provides its customers in the
Western United States, Canada, and Mexico.
The facility is within close proximity to local transportation and
infrastructure including the Port of Long Beach, local airports, and
Interstates 10, 15, and 60. The new facility includes office space to
accommodate local sales and customer service teams, as well as
warehouse space for distribution and a multiple dock loading area
for optimized operations.
Patrick Wind, President of the Wind Group, said, “Establishing a
local presence allows us to better service our customers, increase
their efficiencies and reduce their costs. This Ontario location was
chosen for its proximity to local transportation, infrastructure and
is centrally located near our customers. We are excited about the
opportunity to leverage our expanded capabilities to meet the needs
of our current and future customers in the Western United States,
Canada, and Mexico.”
Ontario Residential Development on the Rise
TRI Pointe Homes Inc.
has begun to develop homes on the 892 lots
the firm recently purchased in Southern and Northern California and
Colorado. The company purchased 412 lots in Ontario and Riverside
According to Douglas F. Bauer, the firm’s CEO, the acquisitions are
part of the company’s strategy to control a three-year supply of
developed lots in high-demand markets while being disciplined and
selective in its home-building activities.
TRI Pointe has already begun selling new homes at the Riverside
location, with sales at the remaining locations expected to begin
within three to 12 months.
The new developments are located in:
a master-planned community in Ontario, CA’s New
Model Colony. Homes are expected to appeal to entry-level buyers
with prices starting in the high $400,000s and to move-up buyers
with prices starting in the mid-$500,000s.
a master-planned community, also in Ontario. Homes for
entry-level buyers are anticipated to be priced from the mid-
The Mayor and City Council are committed to the growth and evolution of Ontario’s economy.
RECENT CITY OF ONTARIO ECONOMIC DEVELOPMENT NEWS:
The City of Ontario has unveiled the
“myOntario” Smart Phone application
allows residents with iPhones and Android
phones to point, click and send photos of
maintenance issues such as graffiti, potholes, roadside debris,
shopping carts, storm drains, street sweeping, lane striping, traffic
signs, sidewalk, curb, and gutter maintenance, tree trimming, park
maintenance, weed abatement, and sprinkler problems.
iPhone and Android users may download the “myOntario”
application for free from the iPhone App Store and Android Market
by searching for the keyword “myOntario”. Once installed, users will
simply open the application and follow the prompts to take a picture
of the issue and then tap “submit”. Using built-in global positioning
system technology, “myOntario” will attach a location to the picture
and route the information about the problem to
the appropriate City department for resolution.
City staff and Vendors will now be able to
respond like a business, using better technology,
encouraging efficiency and faster response times.