| Private Investor Completes Exchange that Consisted of Four SoCal Transactions Totaling $27 Mil
An investor has completed a strategic 1031 exchange of four properties with a total transaction value of $26.9 mil. The complex process involved the sale of a three-property, multi-family/mobile-home portfolio that included 6...
| Cardinal Health Leases 1 msf Facility in the Inland Empire
Cardinal Health has agreed to a long-term lease to occupy an entire 1.01 msf, state-of-the-art warehouse and distribution center in Riverside. Terms of the lease were not disclosed.
Acquired last month by Dedeaux Properties,...
| Rockefeller Group Starts Work on 204k sf Spec Distribution Center in the Inland Empire
Rockefeller Group has broken ground on a 203.9k sf, spec distribution center located on 8.78 acres of industrial land in Moreno Valley. The new building, which follows Rockefeller Group’s recent completion of 2 msf of new in...
| Largest Apartment Complex in Joshua Tree, CA Sells for $6.5 Mil
Quail Springs Village, a 75-unit multifamily property in Joshua Tree, CA, sold for $6.5 mil, or $87k/unit. The buyer was Pro Residential, a Los Angeles-based multifamily investment and property management firm.
Located at 6...
| Moreno Valley Apartment Property Sells for $143k/Unit
A 15-unit multifamily property in Moreno Valley was acquired for $2.15 mil ($143k/unit), in an all-cash deal. The buyer is an experienced local investor who owns several other buildings in Moreno Valley.
The 13k sf property,...
| Construction Started on $43 Mil Mt. San Jacinto College Campus
Construction has begun on Mt. San Jacinto College’s (MSJC) new $43.3 mil, 350k sf Temecula Valley Campus. The general contractor is C.W. Driver Companies.
Consisting of a seismic retrofit and tenant improvement of an existin...
| Inland Empire Senior Living Community Trades for $58 Mil
Altavita Village, a 589-unit senior living community in Riverside, was acquired by Senior Living Riverside LP, an affiliate of La Jolla-based Westmont Living, for $58 mil ($98.5k/unit). The asset, the third largest senor livi...
| Dalan Management Closes $37 Mil Inland Empire Res Buy
Dalan Management, a New York-based real estate investment and management firm, has acquired The Vue Apartment Homes, a 197-unit multifamily community in San Bernardino, for $37.4 mil ($190k/unit). The property was sold by FPA...
| Inland Empire Popeyes Drive-Thru Fetches $1,000/sf
A single-tenant Popeyes Louisiana Kitchen drive-thru restaurant in the Inland Empire city of Beaumont sold for $2.265 mil, or $1,006 per sf. Popeyes is on a 20-year absolute NNN lease with 18+ years remaining. The property, l...
| Cannabis Cultivation Facility in Desert Hot Springs Sells for $240/sf
A net-leased cannabis cultivation facility in Desert Hot Springs sold for $7.76 mil. The 32.4k sf ($240/sf) industrial condominium is leased to Zenco, a cannabis cultivation company, through 2025.
The property is located at ...
| Riverside Multifamily Community Purchased for $300k/Unit
Canyon Crest Views, a 178-unit multifamily property in Riverside, has traded hands in a recent $53.5 mil ($300k/unit) transaction. The 1980’s vintage asset boasts an excellent mix of predominantly two- and three-bedroom townh...
| Transwestern Development Company Acquires 22-Acre Development Site in Eastvale
Transwestern Development Co (TDC) has acquired a 22.34-acre site in Eastvale, about 50 miles east of downtown Los Angeles, for the development of a two-building industrial project encompassing approximately 337.9k sf of Class...
| Inland Empire Retail Center Acquired for $31.5 Mil by Private Investor
Corona Hills Marketplace, a 148.8k sf, grocery-anchored community shopping center located in the SoCal community of Corona Hills, sold for $31.5 mil ($212/sf). The property is situated on 12.28 acres at 529-591 N. McKinley St...
| Lifestyle Res Complex Opens in Murrieta
Mitchell Place, a 230-unit, lifestyle apartment community in Murrieta, has been completed and has opened to the public. The new gated neighborhood, a development of MBK Rental Living, consists of 78 flats and 152 townhomes wi...
| Spec Industrial Facility in the Inland Empire Sells for $123 Mil
Columbia Business Park Phase I, a 1 msf, Class A speculative industrial building, was acquired by an institutional real estate investor for $123.75 mil ($124/sf), making the deal one of the largest single-building transaction...
| Dedeaux Properties Secures $88 Mil for Its Recent Inland Empire Industrial Buy
Dedeaux Properties obtained $87.95 mil in financing for its recent purchase of a newly constructed, 1 msf state-of-the-art warehouse and distribution center in the Sycamore Canyon submarket of Riverside. Dedeaux Properties b...
| Commercial Real Estate Financing Briefs
MERIDIAN CAPITAL GROUP - Seth Grossman, Steven Adler and Jackie Tran with Meridian Capital Group arranged $23.1 mil in acquisition financing for the purchase of the Hilton Garden Inn San Diego Mission Valley Stadium hotel. Lo...
| San Bernardino Multifamily Asset Sells for $115k/Unit
Mountain View Apartments, a 67-unit apartment property in San Bernardino, was purchased by a private investor for $7.73 mil ($115.4k/unit). Built in 1985, the property sits on 2.35 acres at 1475 E Date St.
Mountain View Apar...
| Dedeaux Properties Buys 1 msf Industrial Property in the Inland Empire
Dedeaux Properties, in a joint venture with an institutional partner, has purchased a newly constructed 1 msf, state-of-the-art warehouse and distribution center in Riverside, in what we’re told is one of the largest single a...
| Davlyn Investment Pays $60 Mil for Riverside Multifamily Community
Davlyn Investments purchased Metro Gateway, a newly-built, 187-unit multifamily community in Riverside, for $60 mil ($321k/unit) in an off-market transaction. Built in 2017, the Class A+ property was sold by MBK Rental Livin...