Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT III affiliate, has acquired Dupont Business Center located in Ontario, California. This 111,890 square foot acquisition is Cobalt’s first investment in the Inland Empire.
“This acquisition represents Cobalt’s initial entrance into the Inland Empire market. As a vacant property, it fits well with our value-add strategy. Moreover, its in-fill location in the western Inland Empire submarket, makes it an attractive asset for our typical tenant customer,” says Lew Friedland, Managing Partner of Cobalt Capital Partners. “We are continuing to look for additional investment opportunities in LA and plan to expand our footprint in that market over time.”
Located in the Inland Empire Submarket, Dupont Business Center was built in 2001. The property consists of two vacant 26-foot clear buildings with dock-high and grade-level loading. Cobalt plans to reconfigure and reposition this property for multiple tenant suites ranging in size from 15,000 to 111,890 sq. ft.