ONTARIO, CALIF. – Nuveen Real Estate of Newport Beach has acquired an industrial building located at 2950 E. Philadelphia St. in Ontario, with Myers Power Products in an undisclosed sale and leaseback transaction.
Myers Powers, the tenant, is an industry leader in the design and manufacture of customized power distribution equipment. The company is housed in a 236,700-square-foot freestanding building and utilizes all capabilities for its own manufacturing facilities, including metal fabrication, state-of-the-art paint systems, assembly, integration and testing.
Situated on 12 acres, the building has two oversized loading doors at ground level, 35 loading bays at dock level, a 155-foot truck yard, 4,000 amp capacity, a fenced-in yard and is naturally subdivided.
The deal was handled by Chris Migliori of Daum Commercial Real Estate Services.