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• Investor Spends $600/sf on Newly Constructed La Quinta Retail Property
10/14/11
A NoCal-based private investor recently closed on a $3.3 mil purchase of a 5.5k sf retail building located at 50991 Washington St in the Inland Empire community of La Quinta, in Riverside County. The property fetched a price ...
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• BlackRidge / CAL Development Partnership Acquires 72k sf Ontario Asset
10/11/11
A strategic private equity partnership between BlackRidge Real Estate Group LLC and CAL Development has acquired a 72.4k sf light industrial property in Ontario. The property, located at 1351 South Doubleday Ave, was acquired...
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• Marcus & Millichap Riverside-San Bernardino Metro Area 3Q 2011 Office Market Report
10/07/11
The Inland Empire will continue to post one of the highest office-vacancy rates in the nation through 2011. Weakness can be attributed to elevated completions between 2005 and 2008 and heavy office-using job losses during the...
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• Levy Affiliated Purchases 162k sf Inland Empire Retail Asset
10/06/11
In a recent Inland Empire retail investment buy, Levy Affiliated purchased Rancho del Chino, a 162k sf center in the city of Chino. The seller was Chino North Retail LLC, a private development company. The price was not disc...
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• Hobby Lobby Inks Deals for Three New CA Stores
10/05/11
Hobby Lobby recent completed leases totaling 227.5k sf for three new stores in California. Each of the leases is for buildings formerly occupied by Mervyns. Currently, Hobby Lobby has 491 stores in 41 states.
I...
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• Superior Communications Renews 225k sf Irwindale Space
10/05/11
Superior Communications Inc just signed a $14 mil, long-term renewal lease for the company’s 225k sf of space in Irwindale. Located at 5027 Irwindale Ave, just south of Arrow Hwy, the property houses the company’s corporate h...
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• Hesperia Retail Center Trades for $13.5 Mil
9/30/11
Topaz Marketplace, a 53.3k sf grocery-anchored shopping center in Hesperia, was purchased by Irvine-based TNP Strategic Retail Trust for $13.5 mil ($253/sf). Built in 2008, the property is situated on just over six acres at 1...
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• County of Riverside Purchases Two-Building Office Property
9/29/11
The County of Riverside purchased a two-building office property in Riverside from CT Realty for $6.6 mil. The two buildings, located at 3125 and 3075 Myers St, just south of the 91 Fwy and west of Van Buren Blvd, total 78.1k...
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• Sky Tech Lands in Ontario with 50k sf Lease
9/28/11
In a recent Inland Empire industrial lease, Sky Tech Worldwide inked a deal for 50k sf at 1975 E. Locust St, a 90k sf building near Ontario International Airport in the city of Ontario. The $1 mil transaction was signed with...
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• Furniture Manufacturer Takes 500k sf at SoCal Logistics Centre in Victorville
9/22/11
In the latest large lease signing at the Southern California Logistics Centre in Victorville, United Furniture Industries (UFI) agreed to a deal to occupy 505.2k sf of space in a 1 msf facility that was built in 2009. UFI, a ...
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• Nick DiCosola and Ron Barbieri Team up with Joe Brady in New Venture
9/20/11
Commercial real estate veterans Nick DiCosola and Ron Barbieri have teamed up with another SoCal industry leader, Joseph Brady, in a newly formed venture with The Bradco Companies, Brady’s successful real estate services firm...
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• Marcus & Millichap Apt Research: Riverside-San Bernardino 3Q 2011
9/15/11
Although the Inland Empire struggles with one of the weakest economies in California, the apartment market has maintained a steady path of improvement since its lowest point of the recession in 2009. A confluence of pent-up d...
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• Riverside Multifamily Property Sold in $32 Mil Transaction
9/15/11
Waterstone Magnolia, a 304-unit multifamily community in Riverside, sold for $32.5 mil, or roughly $107k/unit. The property is located at 3610 Banbury Dr, north of the 91 Fwy and west of Tyler St.
Constructed in 1985, Water...
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• SC Edison Leases 1.68 msf Inland Empire Rooftop Space from DEXUS Property Group
9/15/11
Here’s the scoop on a rather interesting deal, as DEXUS Property Group leased 1.685 msf of rooftop space at an industrial property in Perris, California to Southern California Edison (SCE) for the creation of the largest indi...
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• Westcore’s Brutten Picks Up Cathedral City Retail Property
9/14/11
Marc Brutten has acquired Mission Plaza Retail Center, a 72.8k sf, distressed neighborhood retail center in Cathedral City, for $3.17 mil ($43.50/sf). The property, located at 35781-35935 Date Palm Dr, north of Gerald Ford Dr...
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• Simpson Strong-Tie Expands into 396k sf Inland Empire Facility
9/08/11
Here’s an update on a couple of Inland Empire industrial deals. In one, Simpson Strong-Tie purchased (Note: we previously reported this transaction as a lease) an existing 396k sf industrial building in the Agua Mansa redevel...
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• $600+/sf Victorville CVS Sale is a LandMark Deal
9/02/11
A freestanding, 12.9k sf CVS/pharmacy in the city of Victorville sold for $7.95 mil, or around $615/sf. The single-tenant building is located at 14426 Palmdale Rd, within El Evado Plaza shopping center. We’re told that the tr...
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• BlackRidge Closes Industrial Buys in Chino and Phoenix
8/31/11
BlackRidge Real Estate Group LLC recently acquired two industrial properties, one in Chino and another in Phoenix. The firm also announced that it has consolidated and expanded its operations and relocated its headquarters f...
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• Murrieta Office Market Attracting Global Investors
8/30/11
In a Murrieta office buy, Global Building LLC purchased a 55.4k sf multi-tenant building on 2.86 acres. Global is a commercial real estate development and investment company with offices in California, Texas and Washington.
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• Corona is a Good Place for a Newcastle
8/25/11
Newcastle Partners Inc and capital partner HG Capital LLC have acquired Corona Gateway, a three-story, Class A office building totaling 68k sf. Built in 2008, the property is located at 4740 Green River Rd directly off the 9...
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