September 22, 2016
Newmark Grubb Knight Frank (NGKF) completed the sale of Montclair Logistics Center, a nearly 130,000-square-foot single-tenant industrial building in Montclair, CA for $14.3 million. The building is situated on 5.88 acres of land and was fully leased at the time of closing.
NGKF’s Randy Lockhart and Steve Sprenger represented the buyer, Excelsior Partners, LLC, as well as the seller, Brooks Ramona Properties, LLC in the off-market transaction.
NGKF’s Lockhart says, “Timing was essential to this transaction. We worked with both the buyer and seller in what was a rare off-market opportunity. It was also highly strategic for the seller who wanted to hold the property for one year for tax purposes.”
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