Overton Moore Properties Announces the Final Sale at Empire Gateway Business Center

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May 12, 2010, 02:54 ET

POMONA, Calif., May 12 /PRNewswire/ -- Overton Moore Properties (OMP) announces the final building sale of the Empire Gateway Business Center to Pearson Food Company, Inc., a California corporation. 2303 Mt. Vernon Avenue in Pomona, CA is a 132,655 SF state of the art industrial building located on 5.94 acres, featuring 7,500 SF in office space & a 140' gated truck court.

This sale completes the final of four buildings recently sold in the project. In 2009, Buildings 1 & 2 - 2280 & 2288 Valley Boulevard, representing 9,251 SF & 8,579 SF respectively, were sold to local users. Building 3 - 389 Humane Way, representing 95,604 SF was recently sold to Roxy Realty Investment, LLC. The entire industrial park is comprised of 246,089 SF on a total of 11.94 acres with construction completed in 2008 on all four buildings. All four buildings are on separate parcels, provide 22'-30' clear heights, ESFR sprinklers, large secured yards, excellent freeway access, and Feng Shui infused design.

"OMP is pleased to sell the final building in Empire Gateway Business Center. Despite challenging market conditions, this sale is an example of considerable user demand for well designed buildings," noted Jason Hines, Vice President of OMP. "With much of its inventory sold, OMP remains well positioned to acquire existing buildings and execute new development opportunities," Mr. Hines continued.

OMP was represented in this transaction by Stuart Milligan, Phil Lombardo, and Ty Newland of Cushman & Wakefield and David Wu of Grubb & Ellis, represented the Buyer.

OMP, formed in 1972, is one of the largest developers in Los Angeles County. The privately held real estate company specializes in development, master planning, property management, marketing, construction management and financial reporting. OMP has developed or acquired over 30 million square feet of office, industrial and mixed-use space throughout Southern California.

Overton Moore Properties, 19300 South Hamilton Ave, Suite 200, Gardena, CA 90248 T. 310.323.9100, F. 310.608.7997 www.omprop.com.

SOURCE Overton Moore Properties