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5/04/26
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MGR Real Estate paid $24.675 mil for Lakeview, a two-building, 106.3k sf ($232/sf) Class A campus in Ontario. The acquisition includes 1.85 acres of excess land for immediate development.
Lakeview comprises two Class A, three-story office buildings with a 4.1 per 1,000 parking ratio which can be expanded utilizing the excess land on the 7.85-acre site. Built in late 2004 as part of the master-planned Centrelake Business Park, the buildings feature a steel-and-glass exterior with attractive central lobbies and a campus-like courtyard overlooking a lake.
Strategically located with immediate access to the I-10 Fwy between Haven Ave and Archibald Ave, the campus offers strong visibility and connectivity. The property is surrounded by walkable amenities, including restaurants and hotels, and is near Ontario Mills, Toyota Arena, the Ontario Convention Center and Ontario International Airport, which is less than a mile away.
Newmark Vice Chairman Paul Jones and Senior Managing Director Brandon White, in collaboration with Co-Head of U.S. Capital Markets Kevin Shannon, represented seller, BH Properties, in the transaction. MGR Real Estate was self-represented by its Founder and Chief Executive Officer, Michael G. Rademaker, and Tony Hermosillo, Vice President of Real Estate.
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