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June 16, 2024
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• Ontario Office Building Gets New Owner at Price of $200/sf
Zion Enterprises purchased a 45k sf office building in Ontario for $9.115 mil ($202/sf). The property was sold by Jurupa-Haven LP. Built in 2006, the building is located at 1500 S Haven Ave. The two-story, multi-tenant offic...
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• Draftsmen & Craftsmen
Construction has been completed on Mt. San Jacinto College’s (MSJC) Temecula Valley Campus, marking the first permanent campus for higher education in the city. The 350k sf facility will enable MSJC to expand access to the re...
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• Tower 16 Capital Boosts Inland Empire Res Portfolio with the Purchase of Two Properties in Moreno Valley
San Diego-based Tower 16 Capital Partners has acquired a two-property multifamily portfolio consisting of 504 units in Moreno Valley for $107.2 mil ($212.7k/unit). The properties were acquired from a private seller in an off-...
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• Moreno Valley Retail Asset Goes for $8.3 Mil
Lakeshore Village Marketplace, an 80k sf shopping center in Moreno Valley sold for $8.3 mil. The acquisition included an additional 2.3-acre site. Lakeshore Village Marketplace is located at 23575 Sunnymead Pkwy within the S...
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• Riverside Office Building Sells for $11.4 Mil
A three-story, 46.1k sf office building in Riverside was purchased by a private investor for $11.4 mil, or $247/sf. The multi-tenant property was sold by Dornin Investment Group (DIG). The building, located at 3550 Vine St, ...
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• Wood Investments Companies Buys 19.6 Acres in New Ontario Ranch Master-Planned Community
Wood Investments Companies paid $18.49 mil for 19.6 acres in the new Ontario Ranch master-planned community in the city of Ontario. The firm plans to use the land to develop a 206.1k sf retail center anchored by a national gr...
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• Single-Tenant Showroom Facility in the Inland Empire goes for $230/sf
A SoCal-based investment company paid $4.276 mil for single-tenant, 18.6k sf ($230/sf) industrial showroom building in Riverside. Built in 2021, the facility sits on 1.18 acres at 21650 Van Buren Blvd. The asset is part of t...
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• Inland Empire Acapulco’s Restaurant Trades for $644/sf
A single-tenant former Acapulco restaurant property in Moreno Valley sold for $4.83 mil ($644/sf) in an all-cash transaction. The property, located at 12569 Centerpoint Dr, was vacant at the time of the sale. The building is...
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• Inland Empire Industrial Market has Strong Second Quarter 2021
This update was provided by NAI Capital Commercial A year after the pandemic shutdown began, demand for warehouses is soaring, rents are rising, and developers are completing new projects. The supply of completed constructio...
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• Stos Partners Venture Picks Up Pomona Industrial Asset
A 183k sf industrial warehouse in Pomona was acquired by Stos Partners, in a venture with an institutional partner, for $22.275 mil ($122/sf). The property is 100% leased to a credit-backed manufacturing and distribution tena...
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• Moreno Valley Biz Park Sells in $20 Mil Transaction
Moreno Corporate Center, a five-building, 139k sf industrial/flex business park in Moreno Valley, sold for $20.3 mil ($146/sf). The property, located at 14300, 14320 and 14340 Elsworth St and 22620 and 22640 Goldencrest Dr, w...
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• Investors Trade Two Palm Desert Multifamily Properties in $8.8 Mil Deal
A 55-unit multifamily portfolio in Palm Desert was purchased by a private local buyer for $8.8 mil ($160k/unit). The acquisition consisted of two properties - Tiki Gardens Apartments and Shadow Hills Apartments. Located at 4...
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• Tesla Leases New 322k sf Industrial Facility in the Inland Empire
Tesla has signed a lease and taken occupancy at 19640 Cajon Blvd, a recently completed, 322k sf industrial development in San Bernardino. The facility, a development of Alere Property Group, now serves as Tesla’s west coast d...
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• Birtcher Development Starts Work on 125-Acre, SoCal Industrial Project Targeted to Big Box Tenants
Birtcher Development has broken ground on Birtcher Oak Valley Commerce Center, a 125-acre ground-up, industrial development in Calimesa, CA. The Inland Empire project is targeted to big box tenants with warehousing and distr...
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• Private Investor Exchanges into $7.6 Mil Inland Empire Retail Center
Heritage Crossings, a fully leased 16.3k sf retail center located at 7470 Cherry Ave in Fontana, sold for $7.6 mil ($466/sf). Built in 2008 and situated on 2.85 acres, the center is occupied by 7-Eleven, Boston Market, Subwa...
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• Historic Riverside Office Building Sells for $6.15 Mil
A local private investor paid $6.15 mil for the historic Loring Building, a three-story, 24.6k sf ($251/sf) office property in Riverside. It was sold by a Riverside-based partnership of private investors. The property, loca...
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• Starbucks Drive-Thru Anchored Building in the Inland Empire Sells for Over $900/sf
A local San Bernardino County-based private investor paid $4.65 mil for a brand new, 5.05k sf ($919/sf) Starbucks Drive-thru anchored shop building in San Bernardino, as part of a 1031 exchange transaction. The multi-tenant b...
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• Trio of Inland Empire Industrial Leases Total over 200k sf
We’ve got three recent industrial lease briefs in the Inland Empire to share. The deals total over 200k sf and took place in Chino and San Bernardino. In one of the transactions, Sunset Pacific Transportation pre-leased Chin...
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• MG Properties Group Spends $137 Mil on Rancho Cucamonga Res Community
MG Properties Group has purchased Victoria Arbors Apartment Homes, a 319-unit suburban, garden-style residential community in Rancho Cucamonga, for $137.6 mil ($431k/unit). The property was sold by Sares Regis Group. Victor...
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• Community Housing Opportunities Corporation Awarded $22.6 Mil to Build Affordable Housing in Coachella
Community Housing Opportunities Corporation (CHOC), a non-profit affordable housing developer, has been awarded $22.6 mil of financing to begin construction of the Coachella Valley Apartments, which will bring new affordable ...
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