| Mixed-Use Center in Ontario Sells for $24 Mil
A 97.1k sf mixed-use property in Ontario sold for $23.95 mil, or $247/sf. The retail and service center is located at 2403 - 2455 S. Vineyard Ave, on both the north and south sides of the 60 Fwy.
Tenants at the property incl...
| 24 Hour Fitness Shapes Up SoCal Presence with Four New SoCal Locations
Fitness chain 24 Hour Fitness recently 15-year leases totaling 157.5k sf of space for four new SoCal locations. Three of the transactions took place in the OC cities of Santa Ana, Huntington Beach and Fullerton, while the fou...
| Private Investor Spends $9.1 Mil on Chino Office Complex
Chino Gateway Corporate Plaza, a 37.6k sf office complex in Chino, was purchased by a private investor for just over $9.1 mil ($242/sf). Transpiring over two transactions, the sale consisted of four freestanding multi-tenant...
| Coachella Industrial Property Purchased for Over $18 Mil by Exchange Investor
Perez Business Park, the largest multi-tenant industrial project in Cathedral City, was purchased for $18.36 mil by a private investor in a recent 1031 exchange transaction. The 212.5k sf ($86/sf) asset was sold by Global Pro...
| Ontario Distribution Facility Purchased by Owner/User in $12 Mil Deal
Ontario Airport Distribution Center, a 102.4k sf, Class A industrial property in Ontario, was recently acquired for $12 mil ($117/sf) by a local owner/user. The asset was sold by San Francisco-based Newcastle Partners Inc.
| Single Tenant Enterprise-Rent-A-Car in the Inland Empire Sells for Over $600/sf
An Alhambra-based private investor paid $1.52 mil for a 2.3k sf, single-tenant absolute net-leased Enterprise Rent-A-Car property in the Inland Empire city of Redlands. The deal came in at a cap rate of 5.55% and a price of $...
| Private Investors Trade Chino Mixed-Use Building in $2.23 Mil Deal
In a recent retail sales comp from the Inland Empire, a Chino Hills-based private investor paid $2.23 mil for an 8k sf ($279/sf), fully-leased mixed-use building in Chino. The two-story retail/office property, located at 4774...
| Rancho Cucamonga Biz Campus Trades Hands in $15 Mil Transaction
Arrow Business Park, a seven-building, 136.8k sf, multi-tenant industrial/flex business park in Rancho Cucamonga, sold for $15.4 mil, or $113/sf. The business park consists of 69 units ranging from 240 sf to 12.7k sf in size....
| Retail Center in Coachella Fetches $125/SF
Fariba Kavian, Senior Vice President with NAI Capital, represented the seller, Harrison Coachella 26 LLC, in the sale of Coachella Plaza, an 85,035 square foot community retail center. The sale price was $10,600,000 million, ...
| Walmart Supercenter in Ontario Trades for $880/sf
An OC-based private investor paid $6 mil for a new 6.8k sf, Walmart Supercenter in Ontario. The transaction closed at a cap rate of 5.02% and $880 per square foot, said to be a record low cap rate and the highest price per sq...
| Moreno Valley Multifamily Community Sells for Almost $100 Mil
Weidner Apartment Homes has purchased Stonegate at Towngate, a 552-unit apartment complex in Moreno Valley, for $98.55 mil ($178k/unit) in a deal we’re told represents one of the highest prices for a single asset market rate ...
| Coachella Retail Property Sells for Over $10 Mil
Coachella Plaza, an 85k sf community retail center, traded hands in a recent $10.6 mil ($125/sf) transaction. The property, situated on just under 6.5 acres at 50249 Harrison St, was 78% leased at the time of the sale.
| Multi-Tenant Retail Pad Building in Upland Sold for $424/sf
A 9.2k sf, multi-tenant retail pad building in Upland sold for $3.9 mil, or $424/sf, in a deal that had a cap rate of 5.48%, said to be a record low cap rate for a multi-tenant pad over $3.5 mil in the trade area. The buildin...
| Rancho Mirage Showroom Property Sells for Over $400/sf
A 15k sf, retail showroom in Rancho Mirage sold for $5.3 mil, or $413/sf. The property, located at 71441 Highway 111, was fully leased to Electric Car Distributors at the time of the sale.
The facility sits on a 165.5k sf si...
| Ontario Manufacturing Facility Goes for $64/sf
T&C Exchange Accommodators Inc paid $5 mil for a 77.7k sf ($64/sf) manufacturing facility in Ontario. The property, located at 1720 E. Locust St, west of I-15 and north of Hwy 60, just a few blocks from Ontario International ...
| Riverside Res Complex Fetches $262k/Unit
Tuscan Townhomes, a luxury, 63-unit, townhome project in Riverside, was acquired by a private investment entity in a recent $16.5 mil ($262k/unit) purchase. The property, located at 11511 Magnolia Ave, west of LaSierra Ave an...
| Inland Empire Retail Market Continues to Grow
By Brad Umansky, President of Progressive Real Estate Partners
The demand for retail space in SoCal’s Inland Empire region is the strongest it has been since 2007. Rents for new projects are exceeding the pre-recession high...
| Former Walmart Building in the Inland Empire Sells for $4 Mil
A 127k sf, former Walmart building in the Inland Empire city of Perris sold for $4.05 mil ($32/sf) in an all-cash transaction. The buyer was a California-based private family investment entity.
The building, located at 2560...
| Temecula Apartment Buy Financed with $49 Mil Acquisition Loan
MIG Real Estate financed its recent acquisition of Cape May at Harveston, a 300-unit, Class A apartment community in Temecula, with a $48.8 mil loan arranged by CBRE and provided by Fannie Mae.
Built in 2006, the garden-sty...
| Advanced Real Estate Services Pays $16.5 Mil for 63-Unit Rental Property in Riverside
Advanced Real Estate Services Inc (ARES) has acquired Tuscan Townhomes, a 63-unit res property in Riverside, for $16.47 mil, or $261k/unit. The property, built as condominiums from 2007 to 2010 but rented as apartments, is ad...