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January 23, 2021
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• Cypress West Partners Closes on $6.3 Mil Office Buy in Redlands
Park Plaza, a three-building, 52.7k sf office property in Redlands, was purchased by Cypress West Partners for $6.3 mil ($119.50/sf). Located at 1776, 1782 and 1790 West Park Ave, Park Plaza is a three-story, corporate HQ pr...
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• Senior Apartment Community in Ontario Sells for $142k/Unit
Villa Plaza, a 66-unit senior apartment community in Ontario, sold for $9.36 mil ($141.8k/unit). Built in 1970, Villa Plaza is located at 1155 W 4th St, south of I-10 and just west of Mountain Ave. Villa Plaza is a two-story...
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• Investor Exchanges into $9.4 Mil Inland Empire Retail Asset
The Shops at Town Center Marketplace, a 12.6k sf, retail strip center in Menifee, was purchased by a local investor for $9.4 mil ($746/sf). Located at 30029-30067 Haun Rd, The Shops at Town Center Marketplace was completed ...
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• TP-Link USA Corporation Spends Nearly $16 Mil on Chino Hills Industrial Facility
Chino Hills Commerce Center, a 100.3k sf, Class A industrial facility in Chino Hills, was acquired by TP-Link USA Corporation for $15.9 mil ($158/sf). TP-Link, a leading provider of consumer networking products, which include...
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• Inland Empire Office Building Trades for Over $20 Mil
In a recent Inland Empire office acquisition, Montclair-based De Anza Land and Leisure Corp purchased Center Tower Riverside, a five-story, 73.6k sf Class A building in Riverside, for $20.66 mil ($281/sf). The property was so...
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• New LA Fitness in Temecula Sells for $13 Mil
A new, 37k sf single-tenant building occupied by LA Fitness in Temecula has sold for $13 mil ($351/sf). The net-leased property, completed earlier in 2018, is located on 3.69 acres at 29920 Temecula Pkwy, on the east side of ...
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• TH Real Estate Closes $20 Mil Industrial Buy in Corona
A 130.5k sf, three-building industrial portfolio in Corona traded hands at a price of $19.6 mil, or $150/sf. The buyer was TH Real Estate, a real estate investment manager. The properties are located at 1467 and 1468 Davril ...
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• Work Started on a 500k sf Spec Industrial Facility in the Inland Empire
Bridge Development has started construction on Rialto Fulfillment Center 3, a 505.9k sf, spec Class A facility in Rialto. Completion on the building is scheduled for Q4 2019. The building, located at 12050 Agua Mansa Rd, wi...
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• Walmart Neighborhood Market in Palm Desert Sells for $13.5 Mil
A single-tenant, 45.6k sf retail property fully occupied by Walmart Neighborhood Market in Palm Desert has sold for $13.5 mil ($296/sf). The property, situated on 5.37 acres at 72314 Highway 111, was purchased by a private in...
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• Manufacturer of Seats for Off-Road Vehicles Inks Expansion/Relocation Lease in Temecula
Bestop PRP LLC, a company that manufactures premier suspension seats for off-road vehicles, recently inked a five-year lease for 43.2k sf of industrial space in Temecula. The firm will use the space as it headquarters. They p...
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• Inland Empire Flex/Industrial Building Trades for $5.7 Mil
Bailey California Properties LLC paid $5.7 mil for 150 West Walnut Street, a 50.3k sf ($113/sf) flex/industrial building in the Inland Empire city of Perris. The property was sold by WW 150 Perris, LLC, a locally based owner-...
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• Owner/User Pays $106/sf for Temecula Industrial Facility
A 25.2k sf in Temecula was purchased for $2.675 mil ($106/sf) by Forum Capital LLC, an owner-user who will deploy the facility for an auto parts distribution business. The property is located at 43223 Business Park Drive. Bu...
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• Davlyn Investments Buys 125-Unit Inland Empire Residential Community
Davlyn Investments paid $34.8 mil for The Summit, a 125-unit ($278.4k/unit) multifamily property in Chino Hills. The upscale, Class A community represents Davlynís tenth acquisition in the Inland Empire. Constructed in 1990,...
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• Investors are Getting Hesperical about Land in this High Desert City
Four parcels of prime commercial land totaling 15 +/- acres in Hesperia have sold for for $4.3 mil. The City of Hesperia is the gateway to the High Desert region, which is one of the fastest growing areas of Southern Califor...
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• Rancho Cucamonga Warehouse Property Trades for Record $147/sf
Deutsche Wealth Services acquired a 468.7k sf industrial warehouse in Rancho Cucamonga for $68.95 mil ($147/sf). The property, located at 9050 Hermosa Ave, was sold by TH Real Estate, an affiliate of Nuveen (the investment ar...
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• Work Started on 1.26 msf Inland Empire Industrial Facility
Panattoni Development Company Inc, in partnership with PGIM Real Estate, has started construction on Building 1, a free standing 1.26 msf industrial building at the Rialto Fulfillment Center. The property is located at 3520 S...
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• Local Investor Buys Palm Springs Apartment Property
A 23-unit apartment complex in Palm Springs was purchased by a local private investor for $2.2 mil ($95.7k/unit). It was sold by PS Housing Investors. The 16.7k sf property is located at 1433 and 1455 Indian Canyon Dr. The c...
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• Cathedral City Apartment Property Sells for $156k/Unit
A private investment group out of Riverside has purchased Presidio Park in Cathedral City, a 45-unit community in Cathedral City, for $7 mil, or $155.6k/unit. It was sold by a family partnership located in Cathedral City. Bu...
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• Lake Elsinore Marketplace Sells for Over $44 Mil
Pacific Castle has purchased Lake Elsinore Marketplace, a 144k sf regional shopping center in Lake Elsinore, for $44.26 mil ($307/sf). Built in 2005, the western Riverside County property is anchored by Grocery Outlet, Dollar...
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• Phillips Edison & Company Inc Buys 80k sf Inland Empire Retail Center
Sierra Vista Plaza, an 80.3k sf, value-add retail center in Murrieta, was purchased by Phillips Edison & Company Inc. The property is situated on eight acres at 25030-25100 Hancock St, adjacent to I-215. Sierra Vista Plaza i...
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