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September 22, 2020
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• Stirling Development Teams Up with Prologis in Future development at Southern California Logistics Airport in Victorville
Stirling Development has entered into a joint venture with Prologis, who will take over as 50% capital partner for Stirling Capital Investments. Together, the two companies plan to continue the build-out of the Southern Calif...
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• Exchange Investor Pays $5.3 Mil for Riverside Single-Tenant Asset
A Newport Beach-based physician in a 1031 exchange paid $5.35 mil for a single-tenant, 17.9k sf ($299/sf) in Riverside. The freestanding property is fully occupied by Grocery Outlet Bargain Market. With construction complete...
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• Single-Tenant Raising Cane’s in Fontana Sells for $3.5 Mil
A brand new, single-tenant Raising Cane’s Chicken Fingers quick-service restaurant situated on a pad to a Sprouts-anchored shopping center in Fontana, sold for $3.5 mil. The 3.2k sf restaurant includes a drive-thru and sits o...
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• New Barstow Single-Tenant Property Sells for $1,000/sf
A new, 2.6k sf single-tenant retail property in Barstow sold for $2.6 mil, or $1,000/sf. The property, occupied by Dunkin’ (formerly known as Dunkin’ Donuts) and Baskin-Robbins, includes a drive-thru window. Located midway b...
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• CapRock Partners Sells New Corona Industrial Facility
Temescal Valley Commerce Center, a new 140k sf, Class A industrial building in Corona, was acquired by Brothers International Deserts Inc, a SoCal-based ice cream manufacturer. The price was not disclosed. The recently compl...
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• Find Out What's in Store for the Inland Empire - April 25
Join RENTV on April 25 at our 4th Annual Inland Empire State of the Market Conference. Hear and network with many of the leading commercial real estate pros from this important region, as they discuss the office, industrial, ...
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• Inland Empire Warehouse Goes for $219/sf
A 37.4k sf warehouse property in Fontana traded hands between investors in a deal worth $8.2 mil, or $219/sf. Built in 1989, the facility is located at 7627 Cherry Ave. The building is a concrete tilt-up with 24’ minimum cl...
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• Investor Pays $106/sf for Rialto Industrial Asset
A 16-unit, 30.9k sf multi-tenant industrial park in Rialto has sold for $3.3 mil ($106/sf). The multi-tenant industrial park is located at 170-190 N Arrowhead Ave. The project consists of two buildings with units ranging in...
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• Home Chef Cooks Up New Distribution Location with 200k sf San Bernardino Lease
Home Chef has leased 206.4k sf of distribution space at Tri-City Industrial Complex in San Bernardino. Home Chef is one of the largest meal kit delivery companies in the US with over 3.5 million meals delivered each month and...
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• New Rialto Industrial Facility Sells for $16 Mil
A newly constructed, 120.6k sf freestanding industrial facility in Rialto sold for $15.9 mil ($132/sf). The facility, located at 1450 Alder Ave, was then leased out to the buyer’s affiliate, Magnolia Foods, a Mira Loma-based ...
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• Hesperia ARCO and AM/PM Trades in $4.6 Mil Deal
A free-standing ARCO Gas Station and AM/PM Convenience Store in Hesperia sold for $4.6 mil. The property, located at 16815 Main St, is situated on almost one-acre of land with ample room to add additional fuel tanks and ameni...
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• E-Commerce and Logistics Firms Taking Increasing Share of Warehouse Lease Deals
This report was provided by real estate services firm CBRE E-commerce and logistics companies claimed a larger share of the 100 largest industrial-and-logistics leases signed in 2018 than they did a year earlier, underscori...
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• 37-Unit Apartment Community in Menifee Breaks Ground
Artesa at Menifee Town Center, a Spanish mission-style apartment community located in the heart of Menifee, has broken ground. The project, a development of MBK Rental Living, will offer 37 two- and three-story walk-up apartm...
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• 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. ...
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• 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...
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• 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...
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• 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...
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• 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 ...
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• 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...
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• 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...
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