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June 24, 2024
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INLAND EMPIRE NEWS
Archive
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• Rexford Industrial Realty Closes on Six SoCal Acquisitions Totaling $152 Mil
5/12/22
Rexford Industrial Realty Inc recently wrapped up acquisitions of six industrial properties for an aggregate purchase price of $152.7 mil. The purchases, all off-market, were funded using a combination of cash on hand and the...
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• Inland Empire Strip Center Gets New Owner in Private Investor Exchange Deal
5/05/22
In a retail sales comp from the Inland Empire, Golden Sands Plaza, a 10.1k sf property in San Bernardino, sold for $1.1 mil, or $109/sf. The property, located at 1090 W Highland Ave, is considered a value-add opportunity. Bu...
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• Duke Realty Leases Two SoCal Facilities in Deals Totaling 321k sf
5/04/22
Duke Realty Corporation recently inked leases totaling 321.2k sf for two of its Inland Empire distribution facilities. In one of the deals, Universal Shipping Inc, a RAK Logistics company, pre-leased a 148.1k sf spec facility...
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• Tower Investments Pays $124.5 Mil for Nut Tree Retail Center in Vacaville
4/25/22
Nut Tree, a 370.1k sf Best Buy, T.J. Maxx, Nordstrom Rack-anchored regional center located in Vacaville, was acquired by NoCal-based Tower Investments for $124.5 mil, or $336/sf. Located at 1621 E. Monte Vista Ave, Nut Tre...
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• Inland Empire Retail Property Goes to L.A. Buyer after $10 Mil Trade
4/19/22
World Plaza, a 55.8k sf, multi-tenant retail property in San Bernardino, was acquired by an L.A.-based private investor for $10 mil, or $179/sf. The seller was Presidio Property Trust Inc, an internally managed, diversified r...
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• Inland Empire Distribution Facility Purchased for $92 Mil
4/19/22
Val Verde Logistics Center, a recently completed 289.4k sf spec distribution building in Riverside County was acquired by an unnamed investor in a $92 mil ($318/sf) transaction. The facility, completed in October 2021, is ful...
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• SoCal Office Markets Seeing Flight to Low-Mid-Rise Buildings
4/19/22
This report provided by NAI Capital Commercial As tenants renewing leases question what type of space and how much they’ll truly need, a flight to low-mid-rise office building space is playing out in Southern California mark...
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• Rexford Industrial Realty Closes $83 Mil in SoCal Industrial Buys
4/18/22
Rexford Industrial Realty acquired of four SoCal industrial properties for combined price of $82.7 mil. The purchases were funded using a combination of cash on hand, operating partnership units, proceeds from forward equity ...
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• Nordstrom Rack Inks Anchor Lease at Riverside Retail Center
4/11/22
Nordstrom Rack inked a lease for a 30k sf anchor space at the 183k sf Canyon Springs Marketplace in Riverside. The center, located at 2660 Canyon Springs Pkwy, already includes such retailers as Marshalls, Old Navy, Petco, Bi...
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• CapRock Partners Starts Work on Phase 1 of Large-Scale Industrial Project in Norco
4/07/22
CapRock Partners is underway on the construction of Phase I of Palomino Ranch, a large-scale, state-of-the-art master-planned industrial warehouse development in Norco. The development will consist of 2 msf of space across 24...
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• Rexford Industrial Realty Spends $65 Mil on Four SoCal Properties
4/04/22
Rexford Industrial Realty closed on the purchase of four SoCal industrial properties totaling 150.7k sf for $65 mil. The assets, located in Van Nuys, Carson, Vernon and Oceanside, were sold by New York-based New Mountain Capi...
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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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