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February 6, 2023
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INLAND EMPIRE NEWS
Archive
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• Ricoh USA Leases 374k sf Inland Empire Facility
2/25/21
Ricoh USA Inc signed a lease for a 373.8k sf industrial facility in Rialto. Terms of the deal were not disclosed. Ricoh an information management and digital services company, plans to use the warehouse for light assembly an...
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• Affordable Housing Property in Blythe Sells for $29k per Unit
2/24/21
Quail Place Apartments, a 58-unit affordable housing property in Blythe, CA, was purchased by a private investor for $1.7 mil, or $29.3k per unit. Quail Place Apartments sits on 4.79 acres at 551 S 3rd St, near the 10 Fwy an...
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• HFSJ Properties Buys Cold Storage Facility in San Jacinto
2/23/21
A 35k sf industrial facility located at 139 Kellam Ave in the City of San Jacinto sold for $4.3 mil ($123/sf). The building was purchased by HFSJ Properties, whose plans for the property include extensive remodeling, the addi...
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• Meritage Homes Buys 28-Acre Dev Site in Temecula
2/22/21
Meritage Homes acquired a 27.86-acre residential land parcel in South Riverside County’s City of Temecula for an undisclosed price. The firm plans to use the property to develop Heirloom Farms, a new housing community compri...
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• Rexford Industrial Realty Starts the Year Off with $73 Mil in SoCal Industrial Acquisitions
2/09/21
Rexford Industrial Realty acquired five SoCal industrial assets for a total price of $72.7 mil. The purchases included 176.7k sf of improvements, a 2.5-acre industrial outdoor storage site and a 5.6-acre redevelopment site. T...
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• Murrieta Hot Springs Campus Offered for Sale
2/08/21
The historic Murrieta Hot Springs Christian Conference Center and Bible College Campus, a 43-acre campus with lodging and educational facilities in southwest Riverside County, has been put on the market. The property, located...
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• Investor Exchanges into 12.5k sf Inland Empire Medical Office Property
2/03/21
A private investor purchased Holt Medical Center, a 12.5k sf medical office building in Montclair, for $3.8 mil ($304/sf) as part of a 1031 exchange. It was sold by an OC-based private investor. Located at 5153 Holt Blvd, th...
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• Intracorp Homes to Build 96-Home Community in Claremont
2/02/21
Intracorp Homes acquired a five-acre land parcel in Claremont for development of a 96-home community that will include a mix of single family detached homes, duplexes, and townhomes. The project marks the end of the multi-ph...
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• Moreno Valley Apartment Property Traded in $6.76 Mil Transaction
2/01/21
A SoCal-based private investment group paid $6.76 mil for Victory Garden Homes, a 30-unit ($225k/unit) community located at 13989 Moreno Rose Place, just off Allesandro Blvd on the south side of Hwy 60, in Moreno Valley. Bui...
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• Corona Food 4 Less Goes for More than $4.7 Mil
1/26/21
A 55k sf, former Food 4 Less grocery store in Corona traded for $4.788 mil ($87/sf). The building, located at 109 North McKinley St, was purchased by Expert Hardware Flooring, who will use it as a retail showroom and wholesal...
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• OC Investor Completes $2.6 Mil Exchange into a SoCal NNN-Leased Chili’s Property
1/20/21
A 6.3k sf, single-tenant Chili’s Grill & Bar in Lake Elsinore sold for $2.6 mil, or $413/sf. The property is part of Lake Elsinore Marketplace, a 144k sf shopping center anchored by Costco, Lowe’s, Grocery Outlet, PetSmart an...
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• OC Investor Buys Industrial in Rancho Cucamonga
1/15/21
In Rancho Cucamonga, an OC investor bought a 45.7k sf, fully occupied single-tenant industrial building located at 8767 Rochester Ave, within the Inland Empire West submarket, a thriving industrial hub providing users access ...
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• Rockefeller Group Sells Two Inland Empire Facilities for $80 Mil
1/14/21
Rockefeller Group has collected $80.75 mil from the sale of two recently completed industrial properties in the Inland Empire. The two Class A, mid-size buildings, which total approximately 500k sf of space, were purchased by...
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• Inland Empire’s East Valley Industrial Market Sees Strong Fourth Quarter 2020
1/13/21
This report was provided by the Riverside office of real estate services firm Lee & Associates The industrial real estate segment of the Inland Empire’s East Valley finished strong in the last quarter of 2020 with increased ...
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• Commercial Financing Briefs
1/13/21
HIGHLAND REALTY CAPITAL – Brad Sevier of Highland Realty Capital secured a $63 mil fixed-rate loan for the acquisition of a 400k sf, Class A warehouse distribution building in Los Angeles County. The non-recourse loan was pr...
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• Temecula Industrial Building Gets New Owner in $12.6 Mil Deal
1/12/21
In a Temecula industrial buy, The Garmon Corporation paid $12.6 mil for a 91.7k sf ($137/sf) building. Located at 43350-43352 Business Park Dr, the property is north of Rancho California Rd and west of I-15. The building, w...
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• Rexford Industrial Realty Closes Out 2020 with Two Acquisitions Totaling $103 Mil
1/06/21
Rexford Industrial Realty has purchased a four-building industrial portfolio and an industrial outdoor storage property in deals totaling $103.1 mil. The acquisitions closed on December 31, 2020 and were funded using newly is...
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• Historic Property in Redlands Traded in $3.5 Mil Transaction
12/23/20
A 16.3k sf, historic mixed-use property in Redlands was purchased by the Feldkamp family, a local private buyer, for $3.5 mil, or about $215/sf. Located at 21 W. Stuart Ave in Redlands’ downtown area, the property consists of...
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• Multifamily Property in Lake Elsinore Trades Hands
12/16/20
Lakehouse Apartments, a 128-unit value-add multifamily opportunity in Lake Elsinore, was purchased by Prism Multifamily Group, based in Ontario, Canada. It was sold by The Parker Equity Fund LLC, an affiliate of Forge Partner...
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• Stream Realty Partners Completes 160k sf Inland Empire Industrial Development for Cabot Properties
12/15/20
Stream Realty Partners has completed development of Santa Ana Commerce Center, a 160k sf, speculative industrial development in Fontana, on behalf of the owner, Cabot Properties. The project, located on the corner of Santa An...
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