| HFSJ Properties Buys Cold Storage Facility in San Jacinto
A 35k sf industrial facility located at 139 Kellam Ave in the City of San Jacinto sold for $4.3 mil ($123/sf). The building was purchased by HFSJ Properties, whose plans for the property include extensive remodeling, the addi...
| Meritage Homes Buys 28-Acre Dev Site in Temecula
Meritage Homes acquired a 27.86-acre residential land parcel in South Riverside County’s City of Temecula for an undisclosed price. The firm plans to use the property to develop Heirloom Farms, a new housing community compri...
| Rexford Industrial Realty Starts the Year Off with $73 Mil in SoCal Industrial Acquisitions
Rexford Industrial Realty acquired five SoCal industrial assets for a total price of $72.7 mil. The purchases included 176.7k sf of improvements, a 2.5-acre industrial outdoor storage site and a 5.6-acre redevelopment site. T...
| Murrieta Hot Springs Campus Offered for Sale
The historic Murrieta Hot Springs Christian Conference Center and Bible College Campus, a 43-acre campus with lodging and educational facilities in southwest Riverside County, has been put on the market. The property, located...
| Investor Exchanges into 12.5k sf Inland Empire Medical Office Property
A private investor purchased Holt Medical Center, a 12.5k sf medical office building in Montclair, for $3.8 mil ($304/sf) as part of a 1031 exchange. It was sold by an OC-based private investor.
Located at 5153 Holt Blvd, th...
| Intracorp Homes to Build 96-Home Community in Claremont
Intracorp Homes acquired a five-acre land parcel in Claremont for development of a 96-home community that will include a mix of single family detached homes, duplexes, and townhomes. The project marks the end of the multi-ph...
| Moreno Valley Apartment Property Traded in $6.76 Mil Transaction
A SoCal-based private investment group paid $6.76 mil for Victory Garden Homes, a 30-unit ($225k/unit) community located at 13989 Moreno Rose Place, just off Allesandro Blvd on the south side of Hwy 60, in Moreno Valley.
| Corona Food 4 Less Goes for More than $4.7 Mil
A 55k sf, former Food 4 Less grocery store in Corona traded for $4.788 mil ($87/sf). The building, located at 109 North McKinley St, was purchased by Expert Hardware Flooring, who will use it as a retail showroom and wholesal...
| OC Investor Completes $2.6 Mil Exchange into a SoCal NNN-Leased Chili’s Property
A 6.3k sf, single-tenant Chili’s Grill & Bar in Lake Elsinore sold for $2.6 mil, or $413/sf. The property is part of Lake Elsinore Marketplace, a 144k sf shopping center anchored by Costco, Lowe’s, Grocery Outlet, PetSmart an...
| OC Investor Buys Industrial in Rancho Cucamonga
In Rancho Cucamonga, an OC investor bought a 45.7k sf, fully occupied single-tenant industrial building located at 8767 Rochester Ave, within the Inland Empire West submarket, a thriving industrial hub providing users access ...
| Rockefeller Group Sells Two Inland Empire Facilities for $80 Mil
Rockefeller Group has collected $80.75 mil from the sale of two recently completed industrial properties in the Inland Empire. The two Class A, mid-size buildings, which total approximately 500k sf of space, were purchased by...
| Inland Empire’s East Valley Industrial Market Sees Strong Fourth Quarter 2020
This report was provided by the Riverside office of real estate services firm Lee & Associates
The industrial real estate segment of the Inland Empire’s East Valley finished strong in the last quarter of 2020 with increased ...
| Commercial Financing Briefs
HIGHLAND REALTY CAPITAL – Brad Sevier of Highland Realty Capital secured a $63 mil fixed-rate loan for the acquisition of a 400k sf, Class A warehouse distribution building in Los Angeles County. The non-recourse loan was pr...
| Temecula Industrial Building Gets New Owner in $12.6 Mil Deal
In a Temecula industrial buy, The Garmon Corporation paid $12.6 mil for a 91.7k sf ($137/sf) building. Located at 43350-43352 Business Park Dr, the property is north of Rancho California Rd and west of I-15.
The building, w...
| Rexford Industrial Realty Closes Out 2020 with Two Acquisitions Totaling $103 Mil
Rexford Industrial Realty has purchased a four-building industrial portfolio and an industrial outdoor storage property in deals totaling $103.1 mil. The acquisitions closed on December 31, 2020 and were funded using newly is...
| Historic Property in Redlands Traded in $3.5 Mil Transaction
A 16.3k sf, historic mixed-use property in Redlands was purchased by the Feldkamp family, a local private buyer, for $3.5 mil, or about $215/sf. Located at 21 W. Stuart Ave in Redlands’ downtown area, the property consists of...
| Multifamily Property in Lake Elsinore Trades Hands
Lakehouse Apartments, a 128-unit value-add multifamily opportunity in Lake Elsinore, was purchased by Prism Multifamily Group, based in Ontario, Canada. It was sold by The Parker Equity Fund LLC, an affiliate of Forge Partner...
| Stream Realty Partners Completes 160k sf Inland Empire Industrial Development for Cabot Properties
Stream Realty Partners has completed development of Santa Ana Commerce Center, a 160k sf, speculative industrial development in Fontana, on behalf of the owner, Cabot Properties. The project, located on the corner of Santa An...
| Duke Realty Corporation Recent SoCal Activity Totals More than $225 Mil
Duke Realty Corporation has seen investment activity in Southern California totaling more than $225 mil, including a build-to-suit last mile facility, two speculative developments and the pre-leasing of a project currently un...
| Inland Empire Food Production Facility Purchased by Owner/User for Just Over $8 Mil
A 46.8k sf, high-tech food production facility in Perris was acquired for $8.09 mil ($173/sf) by RM5 Holdings LLC, an entity of Jimenez Mexican Food Inc. The property, located at 20343 Harvill Ave, included a significant amou...