Staley Point Capital, a value-add investor focused on infill industrial across the West Coast, today announced the off-market acquisitions of a 7.4-acre land site on Smith Avenue in Corona, Calif., and a 4.0-acre land site on Arrow Route in Fontana, Calif. The two development sites were acquired for a combined purchase price of $37 million, or $74 per land foot.
The transactions are Staley Point’s first acquisitions in the Inland Empire West, which was the country’s strongest performing submarket in 2021. Staley Point intends to develop approximately 250,000 square feet of class-A industrial across the two sites. The transaction in Corona was the assemblage of three parcels from three different sellers at 212, 216, and 220 Smith for $24.6 million, or $76 per land square foot. The site is in the major Corona industrial corridor with direct access to the Interstate 91 and Orange County’s dense population base. The 4.0 acre Fontana land site at 15363 Arrow Route was acquir
