A newly constructed logistics facility in Pomona sold last month for $22.9 million. St. Louis manufacturer Graybar Electric Co. Inc., one of the largest U.S. distributors of electronic parts, bought the property at 2205 Mount Vernon Ave. from Gardena’s Overton Moore Properties.
The company paid $96 a square foot for the 238,148-square-foot industrial building.
The property was constructed to fit the distributor’s needs, said Phil Norton, a senior vice president at Colliers who represented Graybar. It will become a part of the company’s 250-location national logistics network, serving as both an office and distribution facility.
“With low, low vacancy levels for industrial properties in the San Gabriel Valley and the entire Southern California region at record low levels, and demand far outstripping the existing supply of buildings, this type of build-to-suit formula can be the answer for many companies seeking space here,” said Norton.
Rick Sheckter at Newmark Grubb Knight Frank also represented Graybar. Overton Moore was represented by Tom Taylor and Steve Bellitti of Colliers.
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