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February 24, 2021
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INLAND EMPIRE NEWS
Archive
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• Norco Taco Bell Site Goes for Over $1,000/sf
12/02/20
A 2.6k sf, newly developed freestanding retail property occupied by Taco Bell in Norco sold for $2.67 mil ($1,027/sf). A franchisee for Taco Bell recently signed a 25-year ground lease at the site, located at 1460 Sixth St. ...
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• Colton Biz Park Bought for $12.3 Mil by The Bendetti Company
12/01/20
The Bendetti Company has acquired La Crosse Business Park, a six-building, 113.9k sf, multi-tenant complex in Colton, for $12.3 mil. The property, located at 2273 to 2283 La Crosse Ave, currently has 25 tenants occupying over...
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• New 731k sf Corona Industrial Project Fully Leased Up
11/30/20
Columbia Aluminum Products, Tyger Auto, Mascot International Logistics and Web Deal Direct have signed leases for the entire 731.2k sf of space at Shea Center West Corona, a recently completed, three-building industrial proje...
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• MGR Buys Rancho Cucamonga Office Building
11/27/20
In a recent office buy out of Rancho Cucamonga, MGR acquired a 30.2k sf, multi-tenant building for $3.75 mil ($124/sf). Built in 1986, the building sits on a 95k sf lot. It consists of 17 units with a main lobby, is elevato...
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• MCA Realty Collects $14 Mil from Temecula Industrial Sale
11/24/20
Diaz Commerce Center, a 131.6k sf industrial asset in Temecula, was purchased by a local investor for $14 mil ($106/sf). It was sold by MCA Realty, who initially acquired the property in September 2018 for $10 mil. Located a...
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• Inland Empire Medical Office Building Trades for $7.9 Mil
11/23/20
JKI Investment acquired Latham Medical Plaza, a 31.2k sf, medical office building in Riverside, for $7.85 mil ($252/sf). Located at 4361 Latham St, the property was sold by Jolish Latham LLC and Latham ZG LLC, San Francisco-b...
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• Private Investors Trade Inland Empire Gas Station Property in $6.2 Mil Deal
11/18/20
A free-standing Shell Gas Station and Circle K Convenience Store in the Inland Empire city of Bloomington sold for $6.2 mil. Built in 2001, the well-established Shell station has 8 dispensers with 20 fueling positions and a...
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• Beacon Realty Advisors Buys 10-Acre Retail Asset in La Quinta
11/11/20
Beacon Realty Advisors has purchased Jefferson Square, a partially built open-air retail center on approximately 10 acres in the Coachella Valley city of La Quinta, CA. Beacon acquired the property with joint venture partner ...
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• Redlands Investor Picks Up Temecula Retail Center in $7 Mil Deal
11/10/20
A Redlands, CA-based private investor purchased The Shops at Gateway to Temecula, an 8.3k sf, multi-tenant retail asset, in a recent $7.15 mil ($861/sf) transaction. The property consists of a 24-hour drive-thru Starbucks and...
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• Newegg Hatches Additional Distribution Space with 276k sf Inland Empire Lease
11/05/20
Newegg, an American online retailer of items including computer hardware and consumer electronics, inked a 100-month lease for a 276k sf industrial facility in the Inland Empire. The deal value was not given out. The facilit...
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• Palm Desert Senior Res Community Trades for $3.8 Mil
11/04/20
A 21-unit, senior multifamily community in Palm Desert was purchased by a private investor for $3.8 mil, or $181k/unit. Built in 1990, the property is located at 73625 Catalina Way, east of San Pablo Ave and south of Fred War...
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• Duke Realty Corporation Starts Work on 1.2 msf Inland Empire Distribution Facility
11/04/20
Duke Realty Corporation has broken ground on a 1.2 msf, spec industrial development in the Inland Empire city of Perris. The planned state-of-the-art distribution facility, located on just over 55 acres at 728 West Rider St, ...
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• Harbor Associates and The Bascom Group Team Up in $10 Mil Inland Empire Buy
11/03/20
A joint venture between Harbor Associates LLC and The Bascom Group LLC has acquired Stewart Plaza, a 94.5k sf medical office campus in Upland, for $10.25 mil ($108/sf). The asset was sold by a local family that has owned and ...
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• Colton Biz Property Trades in $6 Mil Transaction
11/03/20
A private investor paid $5.95 mil for Cooley Business Park, a 60.1k sf ($99/sf), multitenant office/flex property in the Inland Empire city Colton. The asset was sold by Oak Properties, a private investor based in San Diego. ...
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• Modway Leases 1 msf Distribution Build-to-Suit in the Inland Empire
11/02/20
Furniture distributor Modway Inc signed a 10-year lease for a new, 1.055 msf distribution facility in Hesperia. Modway, a major distributor of living, dining, bedroom, outdoor, lighting and office furniture, plans to establis...
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• Advanced Real Estate Services Acquires 215 Res Units in the Inland Empire
10/30/20
Advanced Real Estate Services Inc acquired a 215-unit apartment property in the city of Riverside for just under $58 mil ($270k/unit). The property sits on 10.5 acres at 7600 Ambergate Place. Amenities include a pool, spa, cl...
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• Anchor Health Properties Venture Buys Temecula Medical Office Asset
10/29/20
A joint venture between Anchor Health Properties and an institutional equity partner recently purchased the Makena Medical Buildings, a 42.9k sf, Class A medical office property in Temecula. Consisting of two two-story build...
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• MG Properties Buys New, 290-Unit Inland Empire Res Community
10/28/20
MG Properties purchased Mitchell Place, a brand-new, 290-unit luxury apartment-townhome community in Murrieta. The property was sold by Mitchell Multifamily LLC, an affiliate of MBK Rental Living LLC, based in Orange County. ...
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• Corona Residential Property Traded Between SoCal Investors in a $4.57 Mil Deal
10/23/20
Lakeside Villas Apartments, a 21-unit community in Corona, has sold in a recent $4.57 mil ($218k/unit) transaction. The property, 100% occupied with strong cash flow, is considered to present significant value-add upside. B...
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• Advanced Real Estate Services Pays $130 Mil for 346-Unit Res Asset in Chino Hills
10/19/20
Advanced Real Estate Services Inc has acquired The Crossings, a 346-unit, newly-built multifamily property in Chino Hills, in a recent transaction valued at $130 mil ($375k/unit). The firm purchased this property with 1031 ex...
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