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February 1, 2023
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INLAND EMPIRE NEWS
Archive
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• Private Investors Trade Palm Desert Medical Office Building
8/18/21
A 9.3k sf medical office building in Palm Desert was purchased by a local private investor in a $4.3 mil ($462/sf) transaction. The property, constructed in 2004, was designed as a build-to-suit for a dental practice and rela...
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• Rexford Industrial Realty Spends $115 Mil on Trio of SoCal Properties
8/13/21
Rexford Industrial Realty Inc recently closed on the purchase of three SoCal industrial properties comprised of a 5.8-acre redevelopment site, a 107k sf industrial building and a 22.3-acre industrial outdoor storage site, for...
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• Duke Realty Acquires 766k sf Inland Empire Logistics Facility
8/10/21
Duke Realty has acquired a 766.2k sf logistics facility located at 2151 Vintage Ave in Ontario. The building, which is in Southern California’s Inland Empire West submarket, is fully leased to Toyo Tire Holdings of America, a...
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• U.S. Industrial Market Posts 100 msf Positive Net Absorption for 3rd Qtr 2021
8/09/21
This report provided by real estate services firm Transwestern The U.S. industrial market continues to prosper during the pandemic, posting 102.2 msf of positive net absorption for the third consecutive quarter, according to...
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• Ontario Office Building Gets New Owner at Price of $200/sf
8/06/21
Zion Enterprises purchased a 45k sf office building in Ontario for $9.115 mil ($202/sf). The property was sold by Jurupa-Haven LP. Built in 2006, the building is located at 1500 S Haven Ave. The two-story, multi-tenant offic...
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• Draftsmen & Craftsmen
8/06/21
Construction has been completed on Mt. San Jacinto College’s (MSJC) Temecula Valley Campus, marking the first permanent campus for higher education in the city. The 350k sf facility will enable MSJC to expand access to the re...
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• Tower 16 Capital Boosts Inland Empire Res Portfolio with the Purchase of Two Properties in Moreno Valley
8/06/21
San Diego-based Tower 16 Capital Partners has acquired a two-property multifamily portfolio consisting of 504 units in Moreno Valley for $107.2 mil ($212.7k/unit). The properties were acquired from a private seller in an off-...
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• Moreno Valley Retail Asset Goes for $8.3 Mil
8/05/21
Lakeshore Village Marketplace, an 80k sf shopping center in Moreno Valley sold for $8.3 mil. The acquisition included an additional 2.3-acre site. Lakeshore Village Marketplace is located at 23575 Sunnymead Pkwy within the S...
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• Riverside Office Building Sells for $11.4 Mil
8/03/21
A three-story, 46.1k sf office building in Riverside was purchased by a private investor for $11.4 mil, or $247/sf. The multi-tenant property was sold by Dornin Investment Group (DIG). The building, located at 3550 Vine St, ...
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• Wood Investments Companies Buys 19.6 Acres in New Ontario Ranch Master-Planned Community
8/02/21
Wood Investments Companies paid $18.49 mil for 19.6 acres in the new Ontario Ranch master-planned community in the city of Ontario. The firm plans to use the land to develop a 206.1k sf retail center anchored by a national gr...
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• Single-Tenant Showroom Facility in the Inland Empire goes for $230/sf
7/29/21
A SoCal-based investment company paid $4.276 mil for single-tenant, 18.6k sf ($230/sf) industrial showroom building in Riverside. Built in 2021, the facility sits on 1.18 acres at 21650 Van Buren Blvd. The asset is part of t...
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• Inland Empire Acapulco’s Restaurant Trades for $644/sf
7/28/21
A single-tenant former Acapulco restaurant property in Moreno Valley sold for $4.83 mil ($644/sf) in an all-cash transaction. The property, located at 12569 Centerpoint Dr, was vacant at the time of the sale. The building is...
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• Inland Empire Industrial Market has Strong Second Quarter 2021
7/23/21
This update was provided by NAI Capital Commercial A year after the pandemic shutdown began, demand for warehouses is soaring, rents are rising, and developers are completing new projects. The supply of completed constructio...
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• Stos Partners Venture Picks Up Pomona Industrial Asset
7/21/21
A 183k sf industrial warehouse in Pomona was acquired by Stos Partners, in a venture with an institutional partner, for $22.275 mil ($122/sf). The property is 100% leased to a credit-backed manufacturing and distribution tena...
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• Moreno Valley Biz Park Sells in $20 Mil Transaction
7/20/21
Moreno Corporate Center, a five-building, 139k sf industrial/flex business park in Moreno Valley, sold for $20.3 mil ($146/sf). The property, located at 14300, 14320 and 14340 Elsworth St and 22620 and 22640 Goldencrest Dr, w...
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• Investors Trade Two Palm Desert Multifamily Properties in $8.8 Mil Deal
7/19/21
A 55-unit multifamily portfolio in Palm Desert was purchased by a private local buyer for $8.8 mil ($160k/unit). The acquisition consisted of two properties - Tiki Gardens Apartments and Shadow Hills Apartments. Located at 4...
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• Tesla Leases New 322k sf Industrial Facility in the Inland Empire
7/19/21
Tesla has signed a lease and taken occupancy at 19640 Cajon Blvd, a recently completed, 322k sf industrial development in San Bernardino. The facility, a development of Alere Property Group, now serves as Tesla’s west coast d...
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• Birtcher Development Starts Work on 125-Acre, SoCal Industrial Project Targeted to Big Box Tenants
7/16/21
Birtcher Development has broken ground on Birtcher Oak Valley Commerce Center, a 125-acre ground-up, industrial development in Calimesa, CA. The Inland Empire project is targeted to big box tenants with warehousing and distr...
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• Private Investor Exchanges into $7.6 Mil Inland Empire Retail Center
7/14/21
Heritage Crossings, a fully leased 16.3k sf retail center located at 7470 Cherry Ave in Fontana, sold for $7.6 mil ($466/sf). Built in 2008 and situated on 2.85 acres, the center is occupied by 7-Eleven, Boston Market, Subwa...
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• Historic Riverside Office Building Sells for $6.15 Mil
7/08/21
A local private investor paid $6.15 mil for the historic Loring Building, a three-story, 24.6k sf ($251/sf) office property in Riverside. It was sold by a Riverside-based partnership of private investors. The property, loca...
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