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• Retail Property in Hesperia Sells for $137/sf
5/06/21
Eagle Plaza, a 39.9k sf, retail property in Hesperia, was purchased by a Texas-based private buyer for $5.45 mil ($137/sf). It was sold by a local private investor.
The property, located at 15776 Main St, features five diffe...
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• Community Housing Opportunities Corporation to Build 60-Unit Affordable Housing Project in Palm Springs
5/05/21
Community Housing Opportunities Corporation (CHOC), a non-profit affordable housing developer, has been awarded $21 mil to move forward with the construction of The Monarch Apartment Homes, a 60-unit affordable housing commun...
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• Industrial Construction Picks Up in the Inland Empire
4/26/21
This update was provided by real estate services firm NAI Capital
A year into the pandemic, rising rents and soaring demand for warehouses motivated developers to bring new projects online in the Inland Empire. Industrial sp...
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• Private Investor Pays $283k/Unit for Palm Desert Multifamily Property
4/26/21
Fred Waring Townhomes, a 12-unit res property in Palm Desert, was purchased by a private local buyer for $3.4 mil, or $283k/unit. Located at 73881 Fred Waring Drive, the complex sits near El Paseo Drive, which is a high-end s...
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• Birtcher Anderson & Davis LLC and Belay Investment Group Spend $44.5 Mil on Seven Properties in Southern California
4/23/21
A venture between San Juan Capistrano-based Birtcher Anderson & Davis LLC and Belay Investment Group has recently closed on a $44.5 mil purchase of seven properties in greater Los Angeles and the Inland Empire.
The acquisit...
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• Davenport Partners Makes $7 Mil Office Buy in Corona
4/22/21
Davenport Partners paid $6.95 mil for a 39.4k sf ($177/sf) office building in Corona. Built in 1990, the property is located at 1101 California Ave, just west of I-15 off of Magnolia Ave.
The two-story garden-style office co...
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• Two Inland Empire Multifamily Buys Total $4.6 Mil
4/21/21
We’ve got two Inland Empire multifamily sales comps to share. In one, a portfolio consisting of 13 residential units in Bloomington was acquired by a private investor for $2.73 mil ($210k/unit). The assets were sold by a fami...
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• Stirling Capital Investments to Start Work on 820k sf Industrial Facility in Victorville
4/20/21
Stirling Capital Investments will begin construction on a new 820k sf industrial facility at Southern California Logistics Centre (SCLC). The LEED designed facility will serve as a future warehouse and distribution hub for a ...
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• Inland Empire Apartment Property Sells for $192k/Unit
4/15/21
In a recent Inland empire res trade, a 34-unit property in Menifee sold for $6.55 mil, or $192.6k/unit. Constructed in 1992, the property is ona a 2.82-acre lot at 28378 Encanto Dr.
The property’s unit mix is comprised of al...
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• MG Properties Makes $88 Mil Inland Empire Res Buy
4/12/21
MG Properties closed on an $88 mil multifamily purchase in the Inland Empire. The firm acquired The District at Grand Terrace, a 352-unit ($250k/unit) apartment project in Colton.
The property was sold by Tower 16 Capital Pa...
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• Inland Empire Walgreens Property Sells for Over $600/sf
4/12/21
A 14.4k sf Walgreens-occupied property in Rialto was purchased by a private investor for $8.72 mil ($606/sf). The NNN-leased property, located at 918 E Foothill Blvd, features a drive-through.
Appetite for pandemic-resilien...
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• Rexford Industrial Realty Buys Five Assets Totaling 382k sf in Feb and March
4/01/21
In the latest activity by Rexford Industrial Realty, the company acquired five industrial properties representing 382.3k sf of improvements for an aggregate purchase price of $68.8 mil. The company also sold one industrial pr...
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• Banyan Imports Leases 200k sf Inland Empire Facility
3/31/21
Banyan Imports signed a long-term lease for a 203.4k sf industrial building in Ontario. The free-standing distribution building is located at 3351 E. Philadelphia St, within the city’s foreign trade zone.
Building features i...
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• Rancho Cucamonga Senior Housing Facility Lands $31 Mil Refi Loan
3/30/21
Merrill Gardens Rancho Cucamonga, a 112-unit senior housing community in Rancho Cucamonga was just refinanced with a new permanent fixed-rate loan for $31 mil.
Built in 2018, the state-of-the-art independent living, assiste...
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• Big-Box Industrial Transactions Up 25% in 2020 as Retailers Raced to Keep Up with Surge in Online Shopping
3/30/21
This report was provided by CBRE
The top North American markets for large warehouses (200k sf or larger) saw record transaction activity in 2020, with the total number rising 25%, according to CBRE. The surge in leasing acti...
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• NFI Industries Pays $183 Mil Per Acre for Ontario Industrial Land
3/26/21
In an Ontario land buy, NFI Industries bought 3.87 acres of industrial zoned land located at 2009-2011 South Cucamonga Ave for $6.73 mil, or $1.83 mil per acre.
The 3.87 acres sit directly adjacent to NFI Industries’ existin...
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• Exquadrum Spends $4.3 Mil on Victorville Facility
3/22/21
Exquadrum Inc closed on the purchase of a 66k sf commercial facility in Victorville for $4.3 mil, or $65/sf. The building, located at 13313 Sabre Blvd, is within Southern California Logistics Airport, the regional airport and...
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• Industrial Properties Command Rent Premiums in U.S. Airport Markets as Distribution Firms Prioritize Delivery Speed
3/19/21
This report was provided by CBRE
Distribution firms want to be close to major air hubs to expedite speedy deliveries, but there is often a price to pay: Industrial rent premiums average 13% in the top U.S. airport submarkets...
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• Investor Exchanges into $5.4 Mil Riverside Res Buy
3/04/21
A 32-unit multifamily property in Riverside traded hands for $5.44 mil, or $170k per unit.
Located at 7440-7458 Magnolia Ave, the two-story multifamily property is at the intersection of Madison St and Magnolia Ave. It cont...
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• Grocery Outlet Takes Anchor Space at Inland Empire Shopping Center
2/26/21
Grocery Outlet agreed to a 10-year lease for a 16.1k sf anchor space at 12240 Hesperia Rd, within the 140k sf Hi-Desert Plaza in Victorville. The lease value was not disclosed.
This will be the chain’s first High Desert st...
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