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March 28, 2024
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INLAND EMPIRE NEWS
Archive
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• Private Investors Close Two Ontario Apartment Buys Totaling $6.6 Mil
4/07/17
Two apartment properties in the Inland Empire city of Ontario were acquired by private investors in separate deals totaling $6.58 mil. The properties total 41 units. In one of the transactions, Elderberry Ontario LLC acquire...
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• Continental Partners Arranges $54 Mil in Refinancing for the Ritz Carlton Rancho Mirage
4/03/17
Continental Partners has secured $54 mil in fixed-rate, non-recourse, interest-only refinancing for the Ritz-Carlton Rancho Mirage, a 244-room luxury resort in the Inland Empire city of Rancho Mirage. The property is located ...
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• Riverside Industrial Asset Acquired for $12.5 Mil by a Tarifiq Buyer
3/31/17
Tarifiq Properties purchased Sycamore Business Center, a 121.4k sf industrial property in Riverside, for $12.5 mil ($103/sf). The property was sold by KB Properties. Located at 7350 San Gorgonio Dr, north of Allesandro Blvd ...
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• Two Outparcels at the Mall of Victor Valley Sell for Over $4 Mil
3/31/17
Two outparcels at the entrance to the Mall of Victor Valley in Victorville have sold for a combined total of $4.2 mil. The Mall of Victor Valley is the dominant regional mall serving Southern California’s High Desert region,...
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• Modus Furniture Renews Its 231k sf Fontana Distribution Facility
3/30/17
Los Angeles-headquartered Modus Furniture International inked a five-year, $6 mil renewal for its 231.6k sf ($0.43/sf/mo) facility in Fontana. Located on a 12-acre site at 11751 Cabernet Dr, the building is part of the 140-ac...
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• Wolverine Worldwide Leases 720k sf Distribution Space in the Inland Empire
3/29/17
Global footwear and apparel company Wolverine Worldwide has leased 720k sf of distribution space in the Inland Empire, at Crossroads Logistics Center in Beaumont, in a transaction initially announced in the second half of las...
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• Newcastle Partners Finishes Work on 147k sf Industrial Facility
3/29/17
Newcastle Partners Inc recently wrapped up construction of Knox Logistics Center, a 147k sf industrial building in Moreno Valley. Valued at approximately $14 mil, the property is located at 17610 Harvill Ave, north of Harley ...
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• Golden Corral Inks Lease for New Restaurant Location in Ontario
3/24/17
Golden Corral has inked a lease for a 12.9k sf restaurant within the Kmart-anchored Vineyard Freeway Center in Ontario. From what we understand, the 15-year deal has a value around $3 mil, which divides out to $1.29/sf/mo. ...
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• New 221k sf Industrial Development Completed in Jurupa Valley
3/16/17
Galena Business Park, a new $13.3 mil industrial office park in the Inland Empire’s Jurupa Valley, has just been completed. Located at the corner of Galena St and Troy Ct, Galena Business Park consists of five high-bay indust...
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• Newcastle Partners Starts Construction on 570k sf of Industrial Facilities in the Inland Empire
3/13/17
San Francisco-based Newcastle Partners recently begain construction of two industrial facilities totaling 570k sf in the Inland Empire cities of Riverside and Chino. One of the facilities, Meridian Distribution Center II, t...
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• Pomona Rite Aid Sells for $290/sf
3/09/17
Temple City-based FC Investment LLC paid $4.85 mil for a 16.7k sf, single-tenant triple-net leased property occupied by Rite Aid in Pomona. The deal came in at a price of $290/sf and a cap rate of 5.92%. Built in 1998, the p...
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• New Single-Tenant Rite Aid in Menifee Trades for $523/sf and a Cap Rate of 4.72%
3/07/17
A private investor paid $9 mil for a new, single-tenant absolute net-lease Rite Aid property in the Inland Empire city of Menifee. The 17.2k sf ($523/sf) property is located at 28995 Newport Rd, just east of I-215. The deal c...
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• Upland Center Signs One of the First 365 by Whole Foods Market Stores in the U.S.
3/06/17
GPI Companies and LStar Communities have started construction on a new 365 by Whole Foods Market at Sycamore Hills Plaza in the Inland Empire. The 80k sf shopping center is located in the master-planned community of Sycamore ...
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• Riverside Denny’s Sells for $957/sf
3/03/17
A 3.7k sf, single-tenant NNN-leased property occupied by Denny’s in Riverside sold for $3.54 mil, or $957/sf. Denny’s has been at this location for 50 years (that’s a lot of Grand Slam breakfasts) and recently renewed its lea...
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• Workers Comp Administrator Firm Buys Ontario Office Property
3/03/17
AdminSure Inc, a third-party administrator of workers’ compensation and liability programs, paid $4.73 mil for a 30.4k sf ($155/sf) office building in Ontario. The two-story building is located at 3380 Shelby, just west of Ha...
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• Chino Retail Center Lands $25 Mil in New Financing
2/23/17
Euclid Plaza LLC has obtained a $25 mil loan on Stater Bros. Plaza, a 73.6k sf retail center in Chino. Built in 2008, Stater Bros. Plaza was 96% leased at the time of the financing. In addition to Stater Bros., tenants includ...
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• Nutrition Products Company Leases 300k sf Ontario Facility
2/22/17
In a big industrial lease out of the Inland Empire, Nellson LLC inked a $30 mil deal for a 302k sf industrial/R&D facility in Ontario. The company is a leading full-service bar and powder nutrition provider in North America. ...
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• Inland Empire Office Asset Trades in $78 Mil Transaction
2/22/17
Inland Empire-based MGR Services has purchased Empire Towers I-IV, a four-building, 401k sf office campus in Ontario, for $78.5 mil, or $196/sf. It was sold by a joint venture between CIP Real Estate and Guggenheim Partners. ...
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• Victorville Apartment Portfolio Trades for $85k/Unit
2/22/17
Sagebrush Capital Holdings, out of Denver, acquired a two-property, fully occupied apartment portfolio totaling 320 units in Victorville in a recent transaction with a price tag of $27.4 mil ($85.6k/unit). The seller in the d...
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• Private Investor Pays $3.5 Mil for Inland Empire Office/Retail Center
2/16/17
Yucaipa Plaza, a 37.5k sf retail/office center in the Inland Empire city of Yucaipa, was purchased by a Los Angeles-based private investor for $3.5 mil ($93/sf) in an all-cash 1031 exchange transaction. Built in 1970, the pr...
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