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December 9, 2023
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INLAND EMPIRE NEWS
Archive
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• Grocery-Anchored Retail Property in Hemet Sells in $14 Mil Deal
4/01/22
A CA-based private investor paid $13.95 mil for Ramona Plaza, a 102.5k sf ($136/sf) retail center in Hemet. Built in 1974, the property sits on 6.41 acres at 1300-1480 E. Florida Ave. Ramona Plaza is located at the highly tra...
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• Circle K-Anchored Center in the Inland Empire Gets Traded for $8 Mil
3/28/22
The Grove, a 39.3k sf, Circle K-anchored neighborhood center in Redlands, sold for $8 mil. The property is located at 1542-1598 Orange St, at the signalized intersection of Orange St and San Bernardino Ave, just minutes from ...
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• Private Investor Exchanges $11 Mil into Two Inland Empire Retail Pad Buildings
3/25/22
A Beverly Hills-based, private 1031 exchange investor paid $11 mil for two multi-tenant retail pad buildings totaling 13.5k sf ($815/sf) at Highland Village Shopping Center, a new Sprouts-anchored shopping center in Fontana. ...
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• San Jacinto Community College District Breaks Ground on STEM Science & Technology facility
3/24/22
Mt. San Jacinto Community College District (MSJC) has broken ground on a new STEM Science & Technology facility at its San Jacinto Campus. The $37 mil project is being built by C.W. Driver Companies in partnership with LPA Ar...
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• iDC Logistics Leases New 190k sf Fontana Facility
3/24/22
iDC Logistics Inc, a third-party logistics company, has signed two leases totaling 553k sf of industrial space, in Fontana, CA and Garden City, GA. In the SoCal deal, the firm took a new construction, 189.5k sf new Class A ...
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• JH Real Estate Partners Wraps Up $70 Mil Inland Empire Retail Buy
3/18/22
In a major retail buy in the Inland Empire, JH Real Estate Partners Inc paid $70.5 mil for Inland Empire Center, a 309.5k sf ($228/sf) asset in Fontana. The property was sold by The Baralat Company, a Westlake Village-based r...
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• New Habit Burger Grill in the Inland Empire Sells for almost $1,700/sf
3/09/22
A newly constructed, single-tenant Habit Burger Grill drive-thru property in Palm Desert sold for $4.57 mil. The 2.7k sf ($1,692/sf) property sits on 0.91 acres at 73320 Dinah Shore Dr, at the newly developed Monterey Crossin...
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• Private Investor Pays $250/sf for Riverside Office Building
3/08/22
An Orange County-based family trust paid $10.17 mil for a 40.5k sf ($251/sf), multi-tenant office building in Riverside. Located at 11870 Pierce St, the building features high-image office finishes, and exterior amenities inc...
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• Draftsmen & Craftsmen
3/03/22
Menifee Union School District has completed a reconstruction work at its Menifee Valley Middle School. The $38 mil, 71.3k sf project transitioned the campus to a magnet school focused on visual and performing arts. The reno...
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• Riverside Office Building Trades in $13.1 Mil Deal
3/03/22
A 65.4k sf, three-story office building in Riverside sold for $13.1 mil ($200/sf). The building, located at 2280 Market St, was 68% leased at time of sale. The property was sold by Dornin Investment Group. The structure was ...
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• Inland Empire Retail Center Sees Five Signings totaling 22k sf of Space
3/02/22
There have been five new lease signings totaling 21.8k sf to report at Corona Hills Plaza. These latest deals bring the center to 97% leased. The popular outdoor regional center is located adjacent to the heavily traveled...
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• Buchanan Street Partners Picks Up New 95k sf Self-Storage Facility in Chino Hills
2/25/22
Buchanan Street Partners has acquired a new, 95.5k sf three-story, climate-controlled self-storage facility in Chino Hills for $24.5 mil in an off-market transaction. The facility, located at 15443 Fairfield Ranch Rd, is comp...
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• Rancho Cucamonga BofA Property Purchased for $668/sf by a NoCal Private Investor
2/18/22
A NoCal-based private investor paid $6.15 mil for a 9.2k sf ($668/sf), single-tenant NNN Bank of America property in Rancho Cucamonga, in an all-cash 1031 exchange deal. The property is located at 8700 Baseline Rd. The long-...
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• Private Investor Closes $3.9 Mil Retail Buy in Big Bear Lake
2/11/22
San Gabriel Valley-based private investor paid $3.9 mil for Village Mall at Big Bear, a 24.8k sf ($157/sf), multi-tenant retail center in Big Bear Lake, in an all-cash transaction. Located at 40729 Village Drive, the 100% oc...
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• Inland Empire Multifamily Comp Works Out to $191k/Unit
2/11/22
In a recent multifamily sales comp from the Inland Empire, Vintage Palms Apartments, a 74-unit property in Indio, was purchased by a private investor for $14.15 mil ($191.2k/unit). Vintage Palms Apartments is located at 824...
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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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