Last-Mile Logistics Specialist Acquires Four-Building Portfolio in Ontario

Faropoint, a tech-enabled real estate investment manager specializing in last-mile industrial properties, acquired a four-building, multi-tenant industrial portfolio in Ontario. It’s the company’s second acquisition in Southern California following an acquisition in March.

The Ontario portfolio was built by Panattoni Development in 2006 and has an aggregate square footage of 243,000 square feet. The Class A properties were 97.6% leased to 29 tenants at the time of the acquisition.

“Following our recent entry into the Los Angeles market, this portfolio acquisition significantly expands our Southern California footprint in a strategic location near the Ontario Airport,” said Harold Levy, vice president of acquisitions at Faropoint, in a statement.

Faropoint operates in 16 U.S. markets and has acquired more than 500 warehouses since its inception in 2012.

Information for this article was sourced from Faropoint.