The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 13, 2020
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
MGR Real Estate Acquires Ontario Office Campus for $38.6 Mil

12/17/19

In a recent Inland Empire office sale, a 159.1k sf, Class A office campus in Ontario traded for $38.6 mil, or $243/sf. The two-building asset was purchased by MGR Real Estate Inc.

Waterside Center I
Waterside Center I
Located at 3110 and 3200 E. Guasti Rd, the property was built in 2005 and 2007 respectively. The five-story, 91.4k sf 3110 building is called University Plaza and is situated on 6.54 acres. The three-story, 67.7k sf 3200 building is called Waterside Center I and is situated on a .67-acre parcel.

NKF’s Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Brunson Howard, Ken White, and Paul Jones, and Managing Director Rick Stumm represented the seller, Buchannan Street Partners. MGR was self-represented.

“This property is a true Class A office environment that is occupied by a diverse roster of both regional and national tenants located in one of Southern California’s tightest office markets,” said Howard. “New ownership is well positioned to capitalize on the strong fundamentals in the Inland Empire office market that include cyclical low vacancy rates and continued net in migration of both residents and corporate occupiers.”

“The Inland Empire has really come into its own this cycle particularly when you consider the single digit vacancy rates and the fact that there is no new speculative office product on the immediate horizon. This region is poised for continued rent growth and consistent capital appreciation,” added Shannon.

The property is ideally situated west of I-15, immediately adjacent to I-10 and just blocks from Ontario International Airport in the desirable Airport Area submarket. According to NKF’s Third Quarter Inland Empire Office Market Report, the Airport submarket is seeing a low 7.6% vacancy rate with no new projects under construction.







Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media