| Industrial Construction Picks Up in the Inland Empire
This update was provided by real estate services firm NAI Capital
A year into the pandemic, rising rents and soaring demand for warehouses motivated developers to bring new projects online in the Inland Empire. Industrial sp...
| Private Investor Pays $283k/Unit for Palm Desert Multifamily Property
Fred Waring Townhomes, a 12-unit res property in Palm Desert, was purchased by a private local buyer for $3.4 mil, or $283k/unit. Located at 73881 Fred Waring Drive, the complex sits near El Paseo Drive, which is a high-end s...
| Birtcher Anderson & Davis LLC and Belay Investment Group Spend $44.5 Mil on Seven Properties in Southern California
A venture between San Juan Capistrano-based Birtcher Anderson & Davis LLC and Belay Investment Group has recently closed on a $44.5 mil purchase of seven properties in greater Los Angeles and the Inland Empire.
| Davenport Partners Makes $7 Mil Office Buy in Corona
Davenport Partners paid $6.95 mil for a 39.4k sf ($177/sf) office building in Corona. Built in 1990, the property is located at 1101 California Ave, just west of I-15 off of Magnolia Ave.
The two-story garden-style office co...
| Two Inland Empire Multifamily Buys Total $4.6 Mil
We’ve got two Inland Empire multifamily sales comps to share. In one, a portfolio consisting of 13 residential units in Bloomington was acquired by a private investor for $2.73 mil ($210k/unit). The assets were sold by a fami...
| Stirling Capital Investments to Start Work on 820k sf Industrial Facility in Victorville
Stirling Capital Investments will begin construction on a new 820k sf industrial facility at Southern California Logistics Centre (SCLC). The LEED designed facility will serve as a future warehouse and distribution hub for a ...
| Inland Empire Apartment Property Sells for $192k/Unit
In a recent Inland empire res trade, a 34-unit property in Menifee sold for $6.55 mil, or $192.6k/unit. Constructed in 1992, the property is ona a 2.82-acre lot at 28378 Encanto Dr.
The property’s unit mix is comprised of al...
| MG Properties Makes $88 Mil Inland Empire Res Buy
MG Properties closed on an $88 mil multifamily purchase in the Inland Empire. The firm acquired The District at Grand Terrace, a 352-unit ($250k/unit) apartment project in Colton.
The property was sold by Tower 16 Capital Pa...
| Inland Empire Walgreens Property Sells for Over $600/sf
A 14.4k sf Walgreens-occupied property in Rialto was purchased by a private investor for $8.72 mil ($606/sf). The NNN-leased property, located at 918 E Foothill Blvd, features a drive-through.
Appetite for pandemic-resilien...
| Rexford Industrial Realty Buys Five Assets Totaling 382k sf in Feb and March
In the latest activity by Rexford Industrial Realty, the company acquired five industrial properties representing 382.3k sf of improvements for an aggregate purchase price of $68.8 mil. The company also sold one industrial pr...
| Banyan Imports Leases 200k sf Inland Empire Facility
Banyan Imports signed a long-term lease for a 203.4k sf industrial building in Ontario. The free-standing distribution building is located at 3351 E. Philadelphia St, within the city’s foreign trade zone.
Building features i...
| Rancho Cucamonga Senior Housing Facility Lands $31 Mil Refi Loan
Merrill Gardens Rancho Cucamonga, a 112-unit senior housing community in Rancho Cucamonga was just refinanced with a new permanent fixed-rate loan for $31 mil.
Built in 2018, the state-of-the-art independent living, assiste...
| Big-Box Industrial Transactions Up 25% in 2020 as Retailers Raced to Keep Up with Surge in Online Shopping
This report was provided by CBRE
The top North American markets for large warehouses (200k sf or larger) saw record transaction activity in 2020, with the total number rising 25%, according to CBRE. The surge in leasing acti...
| NFI Industries Pays $183 Mil Per Acre for Ontario Industrial Land
In an Ontario land buy, NFI Industries bought 3.87 acres of industrial zoned land located at 2009-2011 South Cucamonga Ave for $6.73 mil, or $1.83 mil per acre.
The 3.87 acres sit directly adjacent to NFI Industries’ existin...
| Exquadrum Spends $4.3 Mil on Victorville Facility
Exquadrum Inc closed on the purchase of a 66k sf commercial facility in Victorville for $4.3 mil, or $65/sf. The building, located at 13313 Sabre Blvd, is within Southern California Logistics Airport, the regional airport and...
| Industrial Properties Command Rent Premiums in U.S. Airport Markets as Distribution Firms Prioritize Delivery Speed
This report was provided by CBRE
Distribution firms want to be close to major air hubs to expedite speedy deliveries, but there is often a price to pay: Industrial rent premiums average 13% in the top U.S. airport submarkets...
| Investor Exchanges into $5.4 Mil Riverside Res Buy
A 32-unit multifamily property in Riverside traded hands for $5.44 mil, or $170k per unit.
Located at 7440-7458 Magnolia Ave, the two-story multifamily property is at the intersection of Madison St and Magnolia Ave. It cont...
| Grocery Outlet Takes Anchor Space at Inland Empire Shopping Center
Grocery Outlet agreed to a 10-year lease for a 16.1k sf anchor space at 12240 Hesperia Rd, within the 140k sf Hi-Desert Plaza in Victorville. The lease value was not disclosed.
This will be the chain’s first High Desert st...
| Ricoh USA Leases 374k sf Inland Empire Facility
Ricoh USA Inc signed a lease for a 373.8k sf industrial facility in Rialto. Terms of the deal were not disclosed.
Ricoh an information management and digital services company, plans to use the warehouse for light assembly an...
| Affordable Housing Property in Blythe Sells for $29k per Unit
Quail Place Apartments, a 58-unit affordable housing property in Blythe, CA, was purchased by a private investor for $1.7 mil, or $29.3k per unit.
Quail Place Apartments sits on 4.79 acres at 551 S 3rd St, near the 10 Fwy an...