Drivetime car sales company leases highly sought after 78k sq ft building situated on 17 acres, the value of the transaction was over $4.3 million. The Lee Chang Group handled both tenant representation and landlord representation in the lease of 9121-9129 Cherry Ave in Fontana, CA.
Drivetime Car Sales Fontana, Cherry Ave
9121-9129 Cherry Ave is comprised of 2 buildings totaling 78,960 sq ft situated on a 17.5 acre parcel. The property is located across the street from Auto Club Speedway. Auto Club Speedway is host to a number of NASCAR races as well as many other prestigious racing and car related events.
The Cherry Ave property was highly sought after due to the excess land that could be used for excess storage. There were no other properties on the market similar to Cherry. As a result of the real estate boom in the Inland Empire, most properties similar to this were redeveloped and multiple buildings were built in its place. Through Lee Chang Group’s marketing efforts, they were able to generate a great deal of interest and multiple offers. In the end, they were able to come to favorable terms with Drivetime Car Sales.
DriveTime is one of the nation’s largest dealers with over 144 dealerships across the country. They are based out of Tempe, AZ. They will be using this site to store cars and do minor repairs before distributing them to their dealers located on the west coast. Lee Chang Group had an exclusive right to represent DriveTime on this requirement. Based on their land requirements for outside storage of cars, it was a difficult assignment.
Heavy Industrial Lease Details
- Tenant/Buyer: Drivetime Car Sales Company
- Landlord/Seller: Art Stan Investments
- Property Type: Heavy Industrial
- Region: Inland Empire West
- County: San Bernardino County
- City: Fontana, CA
- Property Size: 78,960 square foot
- Clear Ceiling Height: 20 ft
- Parking Spaces: 332
- Dock-High Doors/Loading: 2
- Drive In / Grade-Level Doors: 7
- Closest Freeways/Highways Exposure: Pomona Freeway (CA-60) and San Bernardino Freeway (I-10)
- Closest Ports: Port of Long Beach
- Value: $4,357,500
- Terms: lease
- NAI Capital, Lee Chang Group Agents: Richard Lee, Nicholas Chang, John Boyer
- Property Address: 9121-9129 Cherry Avenue