DAUM Commercial Real Estate Services has completed the sale of a 256,722 square-foot, 100% occupied industrial/office building located at 875 W. State St. in Ontario for just over $57.1 million. EVPs and principals Eric Fikse, SIOR and Eric Burney, SIOR represented the seller, Rancho Cucamonga-based real estate developer IHC State LLC. Fikse procured the buyer, Santa Fe Springs-based real estate investment and management company Orden Company.
“DAUM drew upon its deep expertise in the Inland Empire industrial market to source a buyer that would satisfy the seller’s requirements,” says Fikse. “Ownership was seeking a buyer that could assume the existing debt, despite a lockout provision and prepayment hurdles. We were able to identify a party willing to structure a debt buyout, which ultimately unlocked the deal.
“The buyer secured more efficient financing that improved returns, while the seller was able to retire above-market debt and avoid additional fees on a stabilized new building purchased at replacement cost. This was a true win-win outcome for all parties involved.”
Don’t Miss Carter Andrus, Chief Operating Officer of Prologis, as the keynote interview at Connect Industrial Midwest.— taking place Tuesday afternoon, March 10, 2026, at Joe’s Live in Rosemont, IL.
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