| Culichi Town Leases Restaurant Space in Hesperia
Culichi Town inked a lease for a 6k sf restaurant space in Hesperia. The location is the former Hidden Tavern space at 12728 Main St.
Construction of the restaurant is underway with the business slated to open in February. ...
| Moreno Valley Jerome’s Furniture Sells for over $7 Mil
A 40k sf Jerome’s Furniture-leased retail space in Moreno Valley sold for $7.32 mil ($183/sf). Jerome’s has 14 years left on their lease term, with three five-year options to renew.
The property, located at 12500 Day St, is...
| Global Medical REIT Spends Over $17 Mil on Inland Empire Medical Office Building
Global Medical REIT paid $17.2 mil for Corona Main Medical Plaza, a 41.8k sf ($411/sf) medical office building in Corona. Constructed in 2009, Corona Medical Plaza is 100% leased and is located at 2250 S Main St, in the heart...
| Commercial Real Estate Financing Briefs
GEORGE SMITH PARTNERS – Gary Tenzer with George Smith Partners arranged $39.3 mil in forward rate-lock permanent financing on a newly constructed, 154-unit, luxury multifamily property in downtown Ventura, one mile from the P...
| Two SoCal Restaurant Properties Sold in Deals Worth over $5 Mil
Two SoCal QSR restaurants have sold in recent deals with a combined value of $5.3 mil. The transactions were for a Panera Bread in Lake Elsinore and a DogHaus Restaurant & Brewery in Vista.
Panera Bread, a newly constructed ...
| Commercial Real Estate Financing Briefs
AVISON YOUNG - Jay Maddox and Peter Sherman with Avison Young arranged a $29 mil loan on behalf of Mega Home LLC to refinance the construction and sell-out of a partially completed 80-unit condominium project located in Los A...
| KKR Spends $43.5 Mil on New Inland Empire Distribution Facility
KKR has acquired a recently completed 406.7k sf industrial distribution building in the Inland Empire city of Perris for $43.5 mil ($107/sf). The building was sold by the developer, Rockefeller Group.
The building, located a...
| Investors Trade NNN Industrial Facility in the Inland Empire
A 197.1k sf, single-tenant industrial property in San Bernardino traded hands. The property, located at 5080 Hallmark Pkwy, was acquired by an unnamed institutional investor.
5080 Hallmark Parkway is NNN-leased on a long-ter...
| Bixby Land and AXA Investment Managers Acquire 340k sf Inland Empire Facility
A joint venture between Bixby Land Company and AXA Investment Managers - Real Assets has acquired a vacant, 340k sf Class A, industrial building in San Bernardino for $33 mil ($97/sf).
Located at 4982 Hallmark Pkwy, north of...
| Hemet Multifamily Property Goes for $93k/Unit
Villa La Paz Apartments, a 26-unit apartment property located in Hemet, sold for $2.42 mil, or $93k/unit. Villa La Paz Apartments is located at 675 South San Jacinto St, south of Hwy 74.
Built in 1973, the property consists ...
| Fontana Jack in the Box Fetches $2.375 Mil
A brand-new, single-tenant Jack in the Box in Fontana sold for $2.375 mil. The new, freestanding Jack in the Box is situated on 0.54 acres at 17020 S. Highland Ave, at the entrance of the brand new Highland Village shopping c...
| Redlands Apartment Sale Comp Comes in at $117k/Unit
A 24-unit apartment property in Redlands sold for $2.8 mil, or $116.7k/unit. The property is located at 312 Cajon St, sout of I-10 off Redlands Blvd.
Built in 1950, the property features 20 one-bedroom/one-bath units and fou...
| Inland Empire Del Taco Trades for $1,957/sf
A single-tenant property fully occupied by Del Taco in Lake Elsinore traded hands in a recent $3.05 mil deal. Located on just under one-half acre of land at 16810 Lakeshore Dr, the freestanding building has 12.5 years remaini...
| The Robert Green Company Secures $212 Mil for Construction of La Quinta Mixed-Use Development
An affiliate of Mosaic Real Estate Investors has provided The Robert Green Company with $212.25 mil in construction financing for the 145-acre, first phase of the master-planned SilverRock Resort and Residences mixed-use deve...
| International Properties Holding Group LLC Buys 143k sf Inland Empire Retail Asset
In a recent Inland Empire retail buy, International Properties Holding Group LLC has acquired San Bernardino Target Center, a 143k sf property in San Bernardino. The center, located at 499 W. Orange Rd, was sold by Brixmor Pr...
| Investor Pays $429/sf for Multi-Tenant Pad Building in Fontana
A private investor from NoCal paid $3.86 mil for a 9k sf ($429/sf), multi-tenant pad building in Fontana. The property is located at 13451 Baseline Ave, adjacent to the I-15 Fwy on/off-ramp at Baseline.
Built in 2002 on 0.53...
| Chino CVS Pharmacy Acquired for $7.6 Mil
A 13k sf retail property leased by CVS Pharmacy in Chino sold for $7.6 mil, or $584/sf. The property was acquired by a local 1031-exchange investor.
The building is located at 12101 Central Ave, at a signalized corner off C...
| Horizon Realty Advisors Buys 658-Bed Student Housing Community in Riverside
Seattle-based Horizon Realty Advisors purchased Sterling Highlander, a 658-bed, 216-unit student housing community in Riverside. The asset was sold by Houston-based The Dinerstein Companies.
Sterling Highlander is located at...
| Bixby Land Led Venture Secures $180 Mil Credit Facility
Bixby Land Co, in a joint venture with an institutional partner, has secured a $180 mil credit facility. The fund’s initial closing of $48.875 mil was used to finance a four-building, Class A industrial portfolio totaling 982...
| Advanced Real Estate Services Buys 194 Res Units in Ontario
Advanced Real Estate Services Inc (ARES) has completed the purchase of 194 units in Ontario from TruAmerica Multifamily. The property, Mountain Summit, sits just south of I-10, on the western edge of the city. Formerly a con...