| 113k sf Ontario Industrial Complex Sells in Two Deals
In industrial sales activity from Ontario, Magnolia West Commerce Center, consisting of two newly-constructed buildings totaling 113.5k sf of space, was sold in two separate transactions. The deal prices were not given out.
| LBA Realty Makes $20 Mil Buy of Inland Empire Industrial Asset
LBA Realty has purchased a fully leased, Class A core industrial building totaling 155.1k sf on nearly seven acres in Riverside for $20.2 mil ($130/sf). Built in 2007, the state-of-the-art facility is located at 1100 E. Citru...
| CapRock Partners Buys 23 Acres in Norco
CapRock Partners has acquired 23 acres in Norco that will accommodate a planned, 425k sf industrial business park. The property, strategically positioned in the Inland Empire West submarket, bolsters CapRock’s development pip...
| Ice Manufacturer Buys 24k sf Building in Lake Elsinore
A newly constructed 24k sf industrial building in Lake Elsinore sold for $3.46 mil ($144/sf). Built in 2018, the property sits on 1.47 acres at 470 3rd St.
The property features 2.8k sf of office space, 1.4k sf of mezzanine ...
| Inland Empire Retail Center Sells for $133/sf
Rose Plaza, a 25.4k sf retail property in Hesperia, sold for $3.38 mil ($133/sf). The property is located at 15885 Main St, in a high-growth and affluent region of Hesperia.
The shopping center was built in 1987 on approxim...
| Multi-Tenant Property in the Inland Empire Fetches $163/sf
A 29.4k sf, multi-tenant industrial building in Cathedral City sold for $4.8 mil, or $163/sf. The building, constructed in 1989, is considered a value-add opportunity.
The building sits on 1.75 acres of land at 68945 Perez R...
| Rexford Industrial Realty Acquires Two Socal Industrial Assets and Sells another One
Rexford Industrial Realty Inc has completed three SoCal transactions consisting of two industrial property acquisitions totaling $21.5 mil and one disposition for $1.7 mil. The acquisitions were funded through a combination o...
| Real Estate Development Associates Starts Work on Two SoCal Industrial Projects
Real Estate Development Associates LLC (REDA) has begun work on two industrial projects in Southern California. The projects are key components of the firm’s plan to break ground on more than 3 msf of industrial space in Sout...
| San Bernardino County Retail Market Activity Leads in Southern California
San Bernardino County’s surging job and population growth are proving to be a critical driver for retail activity.
According to CBRE’s 4th quarter 2017 Retail Overview for San Bernardino County, there is 844.2k sf of new re...
| Logistics Firm Leases 772k sf Inland Empire Distribution Facility
DCG Fulfillment, a third-party logistics (3PL) provider, has agreed to lease a 771.8k sf distribution facility in Redlands. Located at 1300 California St, the facility is a distribution cross-dock warehouse with 36’ minimum w...
| Hammes Partners Buys Eight Leased Condos at Rancho Mirage Medical Office Building
Eight fully leased condominium units totaling 40k sf within a Class A medical office building in Rancho Mirage traded hands in transactions totaling $16.3 mil. The units were purchased by Milwaukee-based Hammes Partners from ...
| Trammell Crow Company Completes Trio of Spec Industrial Projects in the Inland Empire
Trammell Crow Company (TCC) recently completed three speculative industrial buildings totaling 2.4 msf in the Inland Empire. The projects include a 1 msf building in the City of Riverside’s Hunter Park area, a 750k sf buildi...
| Inland Empire Portfolio Buy Financed with $15.9 Mil Insurance Co Loan
Davis Partners & TH Real Estate purchased a 212.6k sf, multi-tenant industrial portfolio in Riverside and Redlands. The deal was financed with $15.9 mil in beft financing arranged by CBRE and funded through an unnamed life in...
| Investor Pays $229k/Unit for Redlands Apartment Property
In a recent multifamily comp out of the Inland Empire, Cypress Villas, an 83-unit apartment property in Redlands, sold for $19 mil, or $229k/unit. The property is located at 301 E Cypress Ave, near downtown Redlands and the U...
| Rialto Self-Storage Property Trades for $4 Mil
A 1031 exchange investor purchased Rialto Self Storage, a 36.9k sf self-storage facility, for $4 mil. The property, located at 2850 W. Foothill Blvd, was 97% occupied at the time of sale.
The facility features 374 self-stor...
| Exchange Investor Buys Multifamily Property in Indio
A 1031 exchange investor paid $6.45 mil for Vintage Palms Apartments, a 74-unit ($87.2k/unit) residential property in the Inland Empire city of Indio. The asset, comprised of six buildings, is located at 82434 Requa Ave and s...
| Cypress West Partners Buys 32k sf Temecula MOB
Cypress West Partners LLC acquired Redhawk Medical Center, a 32.5k sf, multi-tenant medical office property in Temecula. The purchase was financed with $8 mil in acquisition financing.
Redhawk Medical Center is situated on 2...
| Six Occupied Pad Properties at Inland Empire Retail Center Fetch $29.5 Mil
Six fully occupied retail pads at Perris Marketplace in the Inland Empire city of Perris sold in separate transactions for a combined price of $29.5 mil. The pads, totaling 39k sf of space, consisted of three multi-tenant pad...
| Black Creek Group Buys 743k sf Inland Empire Industrial Portfolio
Black Creek Group, out of Denver, has purchased a portfolio of three adjacent industrial warehouses, totaling 743.4k sf in Colton. The portfolio consists of a 121.2k sf property located at 2036 Miguel Bustamante Pkwy, a 175k ...
| Foreign Investor Pays $741/sf for Riverside Walgreens
An all-cash, Chinese-based investor paid $9.5 mil for a 12.8k sf ($741/sf) Walgreens in Riverside. The Walgreens lease is corporate guaranteed and has 10 years remaining on the initial term, with 10 five-year option periods t...