| Rexford Industrial Realty Closes Out 2017 with a $63 Mil SoCal Portfolio Buy
Rexford Industrial Realty purchased a four-property, 416.8k sf industrial portfolio for approximately $62.7 mil. The acquisitions were completed during the fourth quarter of 2017 and were funded using cash on hand, draws on t...
| Inland Empire Hotel Asset Trades for $94k/Room
The Best Western Moreno Hotel & Suites, a 120-room hospitality property located in Moreno Valley, has sold in an $11.24 mil ($93.7k/room) transaction.
Built in 1986, the Best Western Moreno Hotel & Suites is located at 24840...
| Freedom Solar Powers Temecula Industrial Activity with New HQ Lease
Freedom Solar inked an 88-month lease for 21.4k sf of industrial space in Temecula. The lease value was not disclosed.
Freedom Solar, which will use the space as its headquarters, will be relocating and expanding to its new ...
| Medical Users May Resuscitate Long Dead Retail Big Box Space in the Inland Empire
This report was provided to us by CBRE and is based on research conducted by the global real estate services firm.
We’ve all heard the adage “if the shoe fits, wear it.” When we look at the Inland Empire’s (IE) large supply ...
| Temecula Claim Jumper Property Traded for $330/sf
An 11.2k sf, free-standing restaurant occupied by Claim Jumper in Temecula was acquired by New World LP, a California Limited Partnership, for $3.7 mil ($330/sf) in an all-cash deal. The property, located at 29540 Rancho Cali...
| Tower Energy Group Buys Dev Site in Rancho Mirage
Tower Energy Group paid $5.65 mil for a 22.48-acre, mixed-use development land site in Rancho Mirage. The land parcel, situated on the northeast corner of Monterey Ave and Frank Sinatra Dr, in a rapidly growing area of the ci...
| Heitman Affiliate Acquires 475k sf Inland Empire Industrial Asset
An affiliate of Heitman LLC purchased 290 Markham Street, a 475.2k sf, newly developed, fully leased, state-of-the-art industrial warehouse on over 24 acres in the Inland Empire city of Perris. The property was sold by Circle...
| Dedeaux Properties Closes Out an Active Second Half for 2017
Dedeaux Properties has closed the year by signing several major logistics companies to long-term leases for trucking facilities in key Southern California industrial markets.
In one deal, a Fortune 100 logistics company sign...
| Temecula Industrial Facility Traded Between Investors
A 60k sf, Class A industrial building in Temecula has purchased by a private investor for $7.4 mil ($123/sf). It was sold by a local investment company.
Built in 2006 and situated on 1.28 acres at 41995 Remington Ave, the pr...
| Former K-Mart Property in the Inland Empire to Be Redeveloped
A former Kmart-occupied retail property in Colton was recently acquired by an undisclosed 1031 exchange investor from Orange County for $5.35 mil. The 104.2k sf site is located at 1175 South Mount Vernon Ave.
The property is...
| Inland Empire Apartment Property Sells in $4.8 Mil Deal
Infinitus Investments Groups LLC purchased a 62-unit multifamily property in San Bernardino for $4.8 mil, or $77.4k/unit. The property, located at 1420 East Pumalo St, was sold by Pumalo Properties L.P.
The complex offers a...
| Inland Empire Grocery-Anchored Retail Center Trades
Perris Plaza, a 150.1k sf, grocery-anchored dominant shopping center in the Inland Empire city of Perris, was acquired by Nuevo Perris LLC, which is a joint venture among Wood Investments, a Laguna Beach-based real estate inv...
| Furniture Manufacturer Buys Inland Empire Distribution Facility
Parker House Furniture has acquired a 271.1k sf industrial building in Eastvale, CA for use as one of the compay’s distribution facilities. Located at 6300 Providence Way, the warehouse is part of The Campus development, whic...
| Hardwoods Specialty Products Leases 147k sf Inland Empire Facility
Hardwoods Specialty Products agreed to a 10-year lease for a 147k sf full building in the Inland Empire. The facility is located at 17610 Harvill Ave in Perris, within Harley Knox Logistics Center. The deal value was not disc...
| Westcore Properties Picks Up 1 msf Industrial Portfolio in the Inland Empire
In San Bernardino, Westcore Properties has acquired Northgate Industrial Portfolio, a two-building, 1.025 msf Class A industrial asset. The distribution buildings, situated on over 44 acres at 927 East 9th St and 7776 East Ti...
| Freestanding Retail Property in Riverside Sells for $148/sf
A free-standing, 22k sf retail building in Riverside sold for $3.25 mil, or $148/sf. The property is located at 10000 Magnolia Ave, along Riverside’s premier retail corridor.
Built in the 1960s, the outdated building is most...
| Landec Corp Leases 54k sf of Ontario Industrial Space
Landec Corp agreed to a 10-year, $6 mil lease for 54k sf ($0.92/sf/mo) of industrial space in Ontario. Landec’s new space is part of a 92k sf facility at 1975 E. Locust St, within Vineyard Airport Center, near Ontario Interna...
| Inland Empire Retail Complex Traded in $56 Mil Deal
Murrieta Town Center, a 334.9k sf, value-add community shopping center in the Inland Empire city of Murrieta, was purchased by an affiliate of U.S. Realty Partners Inc for $56.6 mil, or $169/sf. It was sold by a private selle...
| Commercial Real Estate Financing Briefs
BERKELEY POINT CAPITAL - Berkeley Point Capital recently provided a Prime Residential affiliate with $105 mil in acquisition financing for the purchase of Avion at Spectrum, a 448-unit luxury apartment complex located in San ...
| Duke Realty Picks Up Two SoCal Industrial Facilities Totaling 874k sf
Duke Realty Corporation has purchased two industrial buildings totaling 873.9k sf in the SoCal cities of Fontana and Industry. The two assets are part of a larger $700 mil, 12-property industrial portfolio that Duke purchased...