Small industrial sells for big money

SoCal project tops $365 a square foot

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Guthrie Development Co. recently sold a 28,750-square-foot industrial property in Pomona, Calif., for $10.5 million. The property, which Guthrie purchased in November 2006, is located on nine acres at 2840 Ficus St. Guthrie's initial plan was to develop 14 industrial buildings on the land, but an unidentified construction company from the East Coast approached Guthrie with a purchase offer that was accepted. ...