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February 6, 2023
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INLAND EMPIRE NEWS
Archive
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• A Community of Friends Starts Work on Riverside Senior Housing Project
2/08/22
Los Angeles-based A Community of Friends has broken ground on Oasis Senior Villas, a 95-unit affordable senior housing community located in Riverside. The development will target low-income senior citizens with half of the un...
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• San Bernardino Res Property Gets New Owner in $5 Mil Deal
2/04/22
Las Brisas Apartments, a 35-unit multifamily property in San Bernardino, was purchased by a private investor for $5 mil, or $143k/unit. Located at 3665 North E St, Las Brisas Apartments consists of 26 one-bedroom/one-bath ...
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• Duke Realty Acquires 89k sf of Industrial Space in Pomona
2/03/22
Duke Realty has acquired two industrial buildings totaling 89k sf in Pomona. The buildings are situated on 3.6 acres at 1941 and 1943 West Mission Blvd. The buildings boast 28’ clear height and 120' truck court, along with ...
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• Hemet Medical Office Property Purchased by Overseas Investor in $5.5 Mil Trade
1/27/22
Courtyard Medical & Professional Center, a 39.8k sf medical office property in Hemet, was purchased by an overseas private investor for $5.56 mil ($140/sf) in an all-cash exchange transaction. The property, located at 910-960...
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• Alere Property Group Acquires 709k sf Inland Empire Warehouse in $199 Mil Deal
1/26/22
Alere Property Group recently acquired Freeway Business Center, a brand new 709.1k sf , Class A industrial warehouse in Riverside, for $199.25 mi ($281/sf). The state-of-the-art facility, situated on over 39 acres, was sold b...
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• U.S. Hits Record Number of Warehouse Leases of 1 msf or Greater in 2021
1/26/22
This report was provided by CBRE Last year was a record year for large warehouse leases, driven by a rebounding economy and strong e-commerce sales. Companies committed to 57 warehouse leases of 1 msf or larger across the U....
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• Link Logistics and Western Realco Pick Up 16.5-Acre Corona Redevelopment Site
1/21/22
A partnership between Link Logistics and Western Realco acquired a 16.5-acre industrial redevelopment site in Corona with plans to redevelop the site. The land, located at 1375 Magnolia Ave, was sold by McWane Inc, one of the...
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• New Standard Equities Pays $342k per Unit for Upland Res Community
1/20/22
New Standard Equities has acquired The Benson, a 236-unit multifamily property in Upland, for $80.75 mil, or $342.2k/unit. The property was sold by an affiliate of Abacus Capital Group. Built in 1973, The Benson sits on a 51...
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• Alere Property Group Acquires 700k sf Single-Tenant Industrial Facility in the Inland Empire
1/12/22
Alere Property Group purchased Freeway Business Center, a new state-of-the-art industrial warehouse facility located in Riverside. The facility, completed in 2021, is leased to UNIS LLC, a national third-party logistics provi...
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• Riverside Multifamily Property Trades for $424k/Unit
1/12/22
Canyon Crest Luxury Apartments, a 106-unit, value-ad multifamily property in Riverside, was purchased for $45 mil ($424.5k/unit) by R.W. Selby from the original developer/owner. The buyer plans to make extensive renovations t...
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• Large SoCal Land Site Trades for Over $300 Mil
1/10/22
We’ve learned of a big SoCal land sale that just closed, although we don’t have a lot of details. The property is a 94.17-acre site located at 12343-12455 Arrow Route in Rancho Cucamonga. It is situated just south of Foothi...
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• Walton Street Capital Affiliate Buys 182k sf Inland Empire Industrial Facility
1/10/22
An affiliate of Walton Street Capital purchased a 182.6k sf industrial building in the Inland Empire city of Colton. The price was not disclosed. The property, located at 1603 S. La Cadena Dr, is a new Class A building, feat...
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• Rexford Industrial Realty Rings in the New Year with $270 Mil of End-of-Year Purchases
1/05/22
Rexford Industrial Realty closed out 2021 with the acquisition of eight industrial properties for an aggregate purchase price of $270 mil. The acquisitions were funded using cash on hand and proceeds from forward equity settl...
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• Village Partners Ventures and The Bascom Group Secure Land and Financing for Mixed-Use Project in Montclair
1/05/22
Village Partners Ventures LLC and The Bascom Group LLC have teamed up on a construction loan and a $10 mil land buy in Montclair to develop a mixed-use project named Village at Montclair. The development, sitting on six acres...
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• Inland Empire Shell/Circle K Gas, Store and Car Wash Property Trades in $9.3 Mil Transaction
1/05/22
A private investor paid $9.34 mil for a Shell Gas Station, Circle K Convenience Store and Car Wash in Jurupa Valley. The purchase included both the business and the real estate. Located at 3873 Pyrite St, directly off the h...
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• Two Retail Properties in Chino Hills Trade in Separate Deals Totaling $19 Mil
1/04/22
There have been two Chino Hills multi-tenant retail property sales to report, in deals totaling just over $19 mil. The properties -- Chino Hills Grand Plaza and Gateway Village -- were acquired by separate buyers. They combin...
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• Jupiter Holdings Tilts Walls on 84k sf Industrial Facility in Menifee
1/03/22
Jupiter Holdings LLC recently completed tilting walls for its newest Building 2, an 84.3k sf industrial building in the south Riverside County city of Menifee. The building is located at 33360 Zeiders Rd, just off I-215 south...
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• L.A. Multifamily Investor Lands $93 Mil in Financing on Three Inland Empire Properties
12/31/21
An L.A.-based investor has obtained $92.7 mil in debt and equity financing for a 397-unit multifamily portfolio consisting of three properties in the Inland Empire. The transactions consisted of refinancings for two of the pr...
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• Greystar Real Estate Partners Buys 264-Unit Res Community in Riverside
12/22/21
Greystar Real Estate Partners purchased Viano at Riverwalk, a 264-unit apartment complex in Riverside. The property was sold by Griffin Living, a nationally recognized leader in senior living, multi-family, and retail develop...
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• Overseas Investor Pays $373k per Unit for Multifamily Asset in Ontario
12/17/21
Hallmark at Mission, a 75-unit multifamily community in Ontario, recently traded to a private foreign investor for $28 mil, or $373.3k/unit, in an all-cash transaction. Located at 840 S. Magnolia Ave, the four-story property ...
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