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July 12, 2020
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INLAND EMPIRE NEWS
Archive
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• Premier Workspaces Opens New Location Within Newly Constructed Wildomar Shopping Center
11/27/19
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
11/25/19
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
11/25/19
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
11/22/19
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
11/22/19
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
11/19/19
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
11/12/19
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
11/11/19
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
11/08/19
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
11/07/19
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
11/06/19
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
11/04/19
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
10/29/19
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
10/21/19
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
10/21/19
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
10/17/19
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
10/16/19
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
10/14/19
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
10/10/19
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
10/08/19
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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