Faropoint. –Faropoint, a tech-enabled real estate investment manager specializing in last-mile industrial properties, Monday announced the acquisition of a four-building, multi-tenant industrial portfolio in Ontario, California. A purchase price was not disclosed.The acquisition expands Faropoint’s presence in the Southern California market after entering the Inland Empire in March.The 243,000-square-foot portfolio was built in 2006 by Panattoni Development, and comprises four Class-A industrial buildings with desirable small-bay configurations. The properties are 97.6% leased to 29 tenants and feature 20-foot-to-25-foot clear heights, 150 feet of shared truck courts, and front park/rear load configurations. The building is near the Ontario International Airport and has access to major transportation routes including Interstates 10 and 15, and Route 60.“These high-image assets offer excellent small-bay buildings in the Ontario market, with attractive specifications including both dock-high and grade-level loading, impressive curb appeal, with well-appointed storefront improvements that are in high demand among today’s diverse industrial users,” said Harold Levy, vice president of acquisitions at Faropoint.CBRE said in a report earlier this month that the “Inland Empire industrial market started 2025 with positive absorption in both the IE East and IE West, decreasing vacancy for the first time since Q3 2022, and strong leasing activity across all size ranges.”“These buildings represent the kind of strategic investment we seek when expanding in new markets,” said Ohad Porat, chief investment officer at Faropoint.Faropoint plans to make capital improvements including roof management, HVAC replacements, and interior upgrades.This transaction is Faropoint’s second acquisition in Southern California. In March, the company purchased a multi-tenant industrial building in Torrance for $9.975 million.Faropoint, founded in 2012, is a real estate investment manager specializing in urban logistics within the US industrial sector

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. LinkedIn, the employment and networking social media juggernaut, has just closed a $74 million deal to purchase a 120,000-square-foot property in Sunnyvale, California, CoStar reports. This represents a vote of confidence for Silicon Valley’s office real estate, which has yet to fully recover from the pandemic-induced remote working phenomenon. The property, located at 1022 W. Maude Ave, was previously owned by another tech company, Synopsys (NASDAQ:SNPS), which purchased it almost seven years ago but needed to sell it to adapt to a leaner post-pandemic holding strategy. Don't Miss: “We actively manage our real estate footprint based on market conditions and other factors,” a Synopsys spokesperson told CoStar