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July 12, 2020
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• Premier Workspaces Opens New Location Within Newly Constructed Wildomar Shopping Center
Premier Workspaces® opened its second location in the Temecula Valley, in Wildomar. The center, located at 36330 Hidden Springs Rd, is within a newly constructed shopping center and is walking distance to many other businesse...
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• Kite Family Limited Partnership Secures Refi on Inland Empire Retail Center
Kite Family Limited Partnership has refinanced Jurupa Valley Spectrum, a 125k sf retail property in the Inland Empire, with a new loan for $9 mil. The financing was used to retire the existing debt on the property, improve t...
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• CIP Secures New Financing of $58.6 Mil on Trio of Inland Empire Assets
CIP Real Estate has obtained $58.6 mil in new, first lien financing on three industrial/office properties totaling 610k sf in the Inland Empire. Kevin MacKenzie, Brian Torp and Peter Thompson with JLL Capital Markets arranged...
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• Pasadena Entity Completes $21.5 Mil Investment Buy in Rancho Cucamonga
A 138.1k sf, multi-tenant industrial park located at 9007-9087 Arrow Route in Rancho Cucamonga was purchased by Teamrise International in a $21.5 mil ($156/sf) transaction. The property was sold by Focus Real Estate Services...
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• Private Investors Trade Palm Desert Apartment Building in $4.5 Mil Deal
A 25-unit apartment complex in Palm Desert sold for $4.5 mil, or $180k/unit. The property, known as El Paso Place, is located at 73200 Tumbleweed Lane and totals 18k sf. The building contains one studio, 16 one-bedroom/one-...
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• Providence Capital GroupBuys 59k sf Inland Empire Office Asset
Rincon Corporate Plaza, a 58.9k sf office building in Riverside County, was acquired for $11.8 mil ($200/sf) by ZHOPE LLC. The property was sold by San Diego-based Providence Capital Group. Located at 355 E. Rincon St in Cor...
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• L.A. Buyer Pays Over $7 Mil for Desert Hot Springs Multifamily Property
Willow Crest Apartments, a 50-unit community that is located on Acoma Street in Desert Hot Springs, sold for $7.2 mil, or $144k/unit. Built on a 2.93-acre site in 2007, the property is located at 65568 Acoma Ave. Willow Cres...
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• New Construction Retail Property in Rialto Sells for $280/sf
A 31.3k sf, new-construction, two-tenant retail building in Rialto sold for $8.775 mil ($280/sf). Built in 2018, the building is occupied by ALDI grocery store and WSS shoe store. The building sits on 2.46 acres at 630-660 W...
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• Temecula Industrial Facility Traded for $28 Mil
A fully-occupied, 224.4k sf industrial facility in Temecula has sold in a $28 mil ($125/sf) transaction. The facility sits on just over 15 acres at 41995 Zevo Dr, west of I-15 off Winchester Rd. The property was purchased by...
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• Inland Empire Distribution Property Trades in $91 Mil Transaction
In news of a major industrial acquisition out of the Inland Empire, Bridge Development Partners has purchased Fourth Street Distribution Center, a 1.43 msf distribution/fulfillment center and a 23.2k sf retail building in Ran...
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• TrakMotive Leases 157k sf Facility in Redlands
TrakMotive has agreed to a $7.78 mil, 88-month lease of a 156.7k sf ($0.56/sf/mo) industrial building in Redlands. The property is located at 1675 W. Park Ave, south of I-10 and just west of Alabama St. TrakMotive, based out...
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• Neighborhood Center in Corona Gets New Owner in $5.3 Mil Deal
An OC-based private investor purchased Corona Lanes Collection, an 18.3k sf retail property in Corona, for $5.35 mil ($292/sf). The asset was sold by Corona Lanes Collection LLC, a private group of local investors, which deci...
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• MJW Property Group Closes $90 Inland Empire Res Buy
In a recent Inland Empire multifamily buy, MJW Property Group purchased The Enclave at Menifee, a 336-unit res property in Menifee, in a deal said to be worth just over $90 mil ($268k/unit). Built in 2007, the property is loc...
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• Inland Empire Flex/R&D Building Fetches $265/sf
A 9.6k sf, flex R&D facility in Ontario sold for $2.54 mil, or $265/sf, in an all-cash deal. The flex R&D facility is located at 3325 Shelby St. Built in 1970, the property features a 3.2k sf high-end office, gated wraparou...
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• Waterford Property Company Pays $21.5 Mil for Ontario Multifamily Property
Waterford Property Company purchased a newly-constructed, Class A 75-unit multifamily property in Ontario in a deal valued at $21.5 mil ($287k/unit). Although this property is Waterford’s first multifamily acquisition in the ...
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• Inland Empire Office Portfolio Trades in $41.7 Mil Deal
Harbor Associates LLC, in a joint venture with Taconic Capital Advisors, has closed on a $41.7 mil, off-market acquisition of a five-building commercial office portfolio totaling 368k sf in San Bernardino. The deal works out...
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• Pacific West Communities Inc Acquires Affordable Housing Development Site in Indio
Pacific West Communities Inc paid just over $2 mil for 6.53 acres in Indio. The property, located at 47555 Jefferson St on a main artery through the city, was sold by United States Marshals Service. The land parcel is in one...
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• First Industrial Realty Trust Acquires Over 16 Acres of Contiguous Land in Perris
First Industrial Realty Trust has completed three acquisitions covering 16.26 contiguous acres of industrial zoned land in the Inland Empire city of Perris, with plans to develop a 315k sf industrial distribution center at th...
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• San Bernardino Apartment Property Acquired as Part of a 1031 Exchange
A 55-unit apartment property in San Bernardino sold for $6.1 mil, or $110.9k/unit. The 49.6k sf property is located at 1275 E Date St. The property features large floor plans with an average unit size of 902 sf and a mix of...
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• Fully Leased Riverside Office Building Sold in $11 Mil Transaction
Pierson Plaza, a 38.1k sf office building in Riverside County, was purchased for $11.3 mil ($296/sf) by a Palm Springs-based real estate investment company. The property was sold by Long Beach-based Tahiti Partner Properties....
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