Imperial Business Park Secures Some Buyers
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San Gabriel Valley manufacturers and distributors have agreed to purchase five of the six industrial buildings under construction at the new 400,000-square-foot Imperial Business Park just off the Pomona freeway in Industry.
The buyers, most of them owners of local businesses, claimed the 28.3-acre business park’s smaller buildings at prices ranging from $78 to $85 per square foot, said broker Barbara Emmons of CB Richard Ellis.
Developer Snyder Langston Operon is selling an 8-acre site within the park to Hunsaker Development Co., which plans to lease its 160,000-square-foot building to multiple tenants.
The Imperial Business Park project’s estimated cost is more than $30 million.
Vacancy in the San Gabriel Valley industrial market is a low 3.8%, compared with 6.9% throughout the Los Angeles basin, according to Colliers Seeley.
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