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• SoCal Starbucks Trades for $1,176/sf
9/23/20
A 3.2k sf, single-tenant Starbucks Drive-Thru in the city of Lake Elsinore sold for $3.765 mil ($1,176/sf), at a closing cap rate of 4.25%. The asset is a pad building within Lake Elsinore Marketplace, a 144k sf shopping cent...
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• Temecula Raising Cane’s Trades for $1,728/sf
9/22/20
A 3.9k sf, single-tenant retail property occupied by Raising Cane’s in Temecula sold for $6.8 mil, in a deal we’re told is the highest price ever paid on a national basis for a Raising Cane’s-leased asset ($1,728/sf - per CoS...
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• Wood Investments Companies Buys Single-Tenant Retail Asset in Chino Hills
9/18/20
In a recent SoCal retail investment deal, Wood Investments Companies Inc purchased a 28.2k sf, single-tenant property occupied by 99 Cents Only Stores on just over two acres in Chino Hills for $2.5 mil ($89/sf).
99 Cents On...
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• Rockefeller Group Acquires 30 Acres in Riverside County for 623k sf of Industrial Development
9/16/20
Rockefeller Group has acquired approximately 30 acres of property in Riverside County for the development of 623.1k sf of Class "A" industrial distribution space.
The first project, being marketed as the Val Verde Logistics...
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• Inland Empire Industrial Park Trades Hands
9/15/20
A SoCal-based 1031 exchange investor purchased Moreno Corporate Center, a five-building, 139k sf industrial park in Moreno Valley. The property was approximately 95 percent occupied by more than 45 tenants at the close of esc...
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• Advanced Real Estate Services Secures $240 Mil in Refi Money on Six SoCal Multifamily Assets
9/14/20
Advanced Real Estate Services Inc has completed $240.44 mil in refinancings on six SoCal multifamily communities totaling 1,223 units. The Freddie Mac and Fannie Mae financings were arranged by NorthMarq Capital and generated...
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• Low Income Housing Complex in Needles Trades for $28k per Unit
9/11/20
An 81-unit, low-income housing property in the city of Needles sold for $2.25 mil, or $28k per unit. The property, River Garden Apartments, has rent restrictions in place.
Located at 1970 Clary Dr, River Garden Apartments is...
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• SoCal Industrial Sales Comp Total $15 Mil
9/11/20
Here are a couple of brief SoCal industrial property sales comps, from Fullerton and Murrieta. The deals total roughly $15 mil.
In Fullerton, a freestanding, 48.2k sf building traded for $10.01 mil, or $208/sf. The property ...
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• Private Investor Pays $392/sf for Rite Aid Building in the Inland Empire
9/10/20
A 12.2k sf Rite Aid building in Desert Hot Springs sold for $4.8 mil, or about $392 per square foot. The building is located at 12900 Palm Drive, in the northeast quadrant of Hacienda Ave and Palm Rd.
The asset was acquired ...
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• Exchange Investor Pays $4 Mil for Corona Industrial Building
9/10/20
A 1031 exchange buyer paid $3.98 mil for a 22.5k sf ($177/sf) industrial building in Corona. The property is situated on on 1.12 acres at 1160 California, west of I-15 and south of Magnolia Ave.
Built in 1990, the property p...
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• Royal Gourmet Corp Leases 65k sf of Industrial Space in the Inland Empire
8/21/20
Royal Gourmet Corp signed a 74-month lease for 65k sf of industrial space in Riverside. The Peachtree Corners, GA-based firm’s new space is within Hunter Highland Corporate Center, a 211.2k sf, Class A building located at 799...
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• North American Commercial Real Estate Market Reacts Sharply to Economic Downturn
8/13/20
This report was provided to us by Transwestern
After a strong start to 2020, the impacts of COVID-19 on the commercial real estate industry became evident during the second quarter. The Midyear Market Sentiment Survey just r...
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• Private Investor Buys 18-Unit Res Property in Fontana
8/07/20
Juniper Apartments, an 18-unit multifamily property in Fontana, was purchased by a private investor for $2.65 mil, or about $147k/unit.
Located at 8945 Juniper Ave, Juniper Apartments is comprised of eighteen two-bedroom, tw...
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• Riverside Office Building Sells for $16 Mil
8/06/20
An unnamed Chicago-based company paid $16 mil for a 44.4k sf ($361/sf), three-story office building in Riverside. The multi-tenant property, located at 3480 Vine St, was 100% leased at the time of sale to three investment-gra...
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• El Centro Apartment Property Gets New Owner in $9.6 Mil Deal
8/05/20
A 75-unit complex in El Centro, CA sold for $9.6 mil, or $128k/unit. The 71.3k sf property, situated on a 132k sf lot at 699 Wake Ave, was acquired by Imperial Properties LLC.
The property consists of 75 units across seven t...
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• SoCal Investor Pays over $500/sf for Multi-Tenant Pad Building at Lake Elsinore Marketplace
8/05/20
A 1031 exchange investor out of Torrance purchased a 7.2k sf, multi-tenant retail building at Lake Elsinore Marketplace, a 144k sf shopping center anchored by Costco, Lowe’s, Grocery Outlet, PetSmart and Dollar Tree. The sale...
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• AJ Rental Inc Spends $2.6 Mil on Inland Empire Industrial Asset
7/30/20
Irvine-based AJ Rental Inc paid $2.6 mil for a three-building, 13.1k sf ($198/sf) industrial property in Perris, CA. The property is located at 2282 Goetz Rd, west of I-215.
Situated on 1.82 acres of land, the property featu...
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• Local Investor Spends Over $5 Mil on Two Buildings at Grocery Anchored Center in Corona
7/28/20
A private investor from Corona purchased two multi-tenant retail buildings at Village Grove Plaza, a Stater Bros Markets- and Crunch Fitness-anchored shopping center in Corona, for $5.2 mil. Totaling 11.6k sf ($448/sf) of spa...
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• Commerce Square Biz Park in Riverside Gets New Owner in $14 Mil Deal
7/28/20
Commerce Square, a four-building, 128.9k sf business park in Riverside, traded hands in a recent $14 mil ($109/sf) transaction. The asset, located at 1550 Marlborough Ave and 1737, 1777 and 1989 Atlanta Ave, just east of the ...
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• Condor Cold Storage Buys 99k sf Facility in Corona
7/24/20
Orange County-based Condor Cold Storage acquired a 99k sf, cold storage facility in the city of Corona. The property consists of two buildings located at 300 El Sobrante Rd and 1701 N. Delilah St, south of the 91 Fwy and east...
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