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• Palm Springs Biz Park Sells for Over $4 Mil
6/04/13
WLA Investments Inc has purchased North Village Center, a 93.5k sf, three-building industrial/retail park in Palm Springs. The asset, located at 19345-19465 North Indian Canyon Dr, sold for $4.12 mil ($44/sf) in a short sale....
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• MCS Industries Leases 115k sf Rancho Cucamonga Facility
6/03/13
MCS Industries recently signed a lease for 115k sf of space in Rancho Cucamonga. The company, a provider of wall and poster frames, is relocating from 86k sf of space in Visalia. The new lease includes an option for an additi...
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• Newmark Realty Capital Arranges $16 Mil for Murrieta Retail Center
5/31/13
Newmark Realty Capital’s Jamie Dick arranged $16 mil in refi money for Plaza De Oro, a 99.1k sf shopping center located in Murrieta. The center, located at the intersection of Calle Del Oso Oro and Washington Ave, is anchored...
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• Bascom Completes 175-Unit Multifamily Buy in Palm Springs
5/30/13
The Bascom Group LLC has acquired Andalucia Apartments, a 175-unit community located in Palm Springs. Built in 1979, the property consists of four three-story buildings with three pools and spas spread throughout. The price ...
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• Zelman Development Company Lands $25 Mil Loan for Inland Empire Power Center
5/24/13
Zelman Development Company and Grayburn Properties have obtained $25.2 mil in financing for Ontario Gateway Center, a 220.9k sf power center in Ontario.
Ontario Gateway Center is located at 4420 Ontario Mills Pkwy, directly...
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• 1031 Exchange Investor Pays $8 Mil for San Bernardino Office Building
5/24/13
Three Carnegie Plaza, an 85.8k sf office building in San Bernardino, was acquired by a 1031 exchange investor for $8 mil ($93/sf). The two-story building is located at 735 East Carnegie Dr, east of Waterman Ave and north of I...
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• JB Matteson Spends Over $200k/Unit for Upland Multifamily Community
5/22/13
JB Matteson recently completed the purchase of a 128-unit apartment community in Upland for $26.45 mil ($206.6k/unit). Currently known as Broadstone Foothills Apartments, the property sits on 6.4 acres at 524 North Central Av...
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• Lucent Capital Arranges $11 Mil for Two SoCal Office/Retail Properties
5/17/13
Lucent Capital has arranged separate loans totaling $11.05 mil in permanent financing to recapitalize two Southern California mixed-use office over retail buildings owned by a Beverly Hills-based investment group.
In the l...
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• Beech Street Provides $5.4 Mil Fannie Mae Loan on Inland Empire Multifamily Property
5/07/13
Beech Street Capital LLC has funded a $5.4 mil Fannie Mae DUS loan to refinance Centrepointe Apartments, a 361-unit multifamily property in the Inland Empire city of Colton. The property has been owned by the borrower, a SoCa...
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• Behringer Harvard and CT Realty Investors Collect $40 Mil from IE Industrial Sale
4/30/13
Interchange Business Center, a three-building, 667k sf industrial development in San Bernardino traded hands in a recent transaction valued at $40.4 mil, or $61/sf. The 34-acre complex, located on Cajon Blvd at University Pkw...
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• Tenants at Victorville’s SoCal Logistics Centre to Enjoy Optical Fiber Services
4/30/13
Stirling Capital Investments and Charter Business Communications have formed a partnership to bring optical fiber services to Global Access in Victorville. The optical fiber solutions will be employed at the Southern Californ...
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• Joseph Chavez Named President of Lee & Associates Investment Services Group
4/26/13
Joseph Chavez, a 14-year veteran of Los Angeles commercial real estate, was named president of Lee & Associates Investment Services Group (ISG). Chavez, who joined Lee in 2010 as senior vice president, specializes in the acqu...
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• Gallery Homes Acquires 10 Estate Lots in Riverside
4/19/13
Ten estate lots located on southerly side of Nandina Avenue just east of Washington Street in the Mockingbird Canyon area of Riverside recently sold for $1.15 mil. Nandina is a private enclave of 22 one- and two-story homes, ...
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• Inland Empire Seeing a Steadying Pace as Region Emerges from Recession
4/19/13
Here’s a review of the Inland Empire industrial market as of the end of the first quarter of 2013, provided to us by the Ontario office of Lee & Associates. The report was prepared by Kathee Wozniak, marketing and research di...
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• Walker & Dunlop Provides $71 Mil for Inland Empire Multifamily Acquisition
4/19/13
Walker & Dunlop Inc provided $71.25 mil in financing for Terracina Apartments, a 736-unit community in Ontario that was purchased by MG Properties and Rockwood Capital in February for $95 mil ($130k/unit), as reported on RENT...
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• Draftsmen & Craftsmen
4/17/13
C.W. Driver has started construction on the new student recreation center expansion located on the University of California, Riverside (UCR) campus. The $35.2 mil project, which is targeted for LEED silver certification, invo...
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• Kevin Boeve Named Regional Manager of Marcus & Milichap’s Ontario Office
4/16/13
Kevin Boeve has been named regional manager of Marcus & Millichap’s Ontario office. According to John J. Kerin, Marcus & Millichap’s president and chief executive officer, Boeve will be instrumental in expanding their nationa...
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• 100k sf Ontario Office Property Bought by BH Properties for $13.8 Mil
4/09/13
BH Properties LLC has acquired an Inland Empire office property in a $13.8 mil value-add deal. The 106.3k sf ($130/sf) property, Lake View Center, is located at 3257 & 3237 E. Guasti Rd, west of Haven Ave between I-10 and Ont...
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• Investor Buys Temecula Flex Building
4/05/13
In Temecula, a private investor purchased a two-condo industrial flex building at 32836-32840 Wolf Store Rd for $1.68 mil. The buyer acquired the property from REVShare in a 1031 exchange.
Built in 1999 on .36 acres, the 14....
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• Berkeley Point Capital Arranges $33 Mil Refi on Redlands Multifamily Property
4/04/13
Rob Cantizano of Berkeley Point Capital LLC recently closed a $32.7 mil refi loan for Barton Vineyard Apartments, a 296-unit, garden-style, Class A apartment community located in Redlands. The financing was arranged under Fan...
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