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Faropoint Acquires Inland Empire Portfolio

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Built by Panattoni Development, the properties debuted in 2006. The post Faropoint Acquires Inland Empire Portfolio appeared first on Commercial Property Executive.

Faropoint has acquired a four-asset, Class A industrial portfolio in Ontario, Calif., encompassing 243,000 square feet.

The buyer plans to implement multiple capital improvements, including roof maintenance, HVAC replacements and interior upgrades. Panattoni Development constructed the properties in 2006.

The shallow-bay warehouses are near Ontario International Airport. The properties are also close to interstates 10 and 15, as well as U.S. Route 60.

At the time of sale, the portfolio was 97.6 percent leased to 29 companies. Features include clear heights ranging from 20 to 25 feet, 150-foot shared truck courts, as well as front- and rear-load configurations.

The deal marked Faropoint’s second purchase in Southern California. The firm entered the market in March when it paid $10 million for a 35,956-square-foot asset in Torrance, Calif., according to CommercialEdge information. That facility is about 20 miles from downtown Los Angeles.

Faropoint specializes in last-mile facilities and, since its inception in 2012, it has acquired more than 500 assets totaling an industrial investment volume north of $3 billion. Set out to further expand its portfolio of urban warehouses, the company closed the Industrial Value Fund III last June with $915 million in commitments.

The firm operates in 16 U.S. markets, including Jacksonville, Fla., and Memphis, Tenn., two metros where Faropoint expanded by purchasing a 16-property portfolio for $105 million last year.

Inland Empire investment off to a slow start in 2025

Against the backdrop of looming tariffs, investors weren’t quick to bet on the Inland Empire during the first two months of the year. The transaction volume stood at just $7 million, according to the latest CommercialEdge report.

However, assets in the metro changed hands for $153 per square foot, well above the $127 national average. Among Western markets, Orange County took the lead with properties commanding $340 per square foot, followed by the Bay Area ($292 per square foot).

The post Faropoint Acquires Inland Empire Portfolio appeared first on Commercial Property Executive.