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September 27, 2023
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INLAND EMPIRE NEWS
Archive
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• Orbis Real Estate Partners Collects $140 Mil from Two Inland Empire Dev Land Sales
12/11/20
Two large industrial development sites totaling 88.5 acres in the Inland Empire sold in deals worth a combined $140 mil. The assets were sold by Orbis Real Estate Partners. In the larger transaction, Reno-based Dermody Prope...
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• Big Lots Leases 35k sf Riverside Anchor Space
12/10/20
Big Lots signed a lease for a 35k sf, anchor space in Riverside that was previously a JoAnn Fabrics store. The store, located at 2620 Canyon Springs Pkwy, is situated within the 183k sf, freeway adjacent Canyon Springs Market...
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• Rexford Industrial Realty Wraps Up $129 Mil Inland Empire Portfolio Buy
12/10/20
Rexford Industrial Realty is closing out the year with yet another big, end-of-year SoCal portfolio buy. Just one day after we announced the firmís $154.6 mil acquisition of the 18-building Van Nuys Airport Center portfolio, ...
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• MBK Rental Living Completes 330-Unit Res Project in Menifee
12/09/20
MBK Rental Living has completed work on Artesa at Menifee Town Center, a 330-unit luxury apartment community located in the heart of a master-planned community in Menifee. The development, built by R.D. Olson Construction, wa...
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• Multifamily Complex in Bermuda Dunes Goes for $33.6 Mil
12/08/20
A SoCal investment group paid $33.6 mil for Medici Apartment Homes, a 140-unit ($240k/unit) community located in Bermuda Dunes. Built in 2002, the property is located on 79090 42nd Ave, south of I-10 and west of Jefferson St....
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• Norco Taco Bell Site Goes for Over $1,000/sf
12/02/20
A 2.6k sf, newly developed freestanding retail property occupied by Taco Bell in Norco sold for $2.67 mil ($1,027/sf). A franchisee for Taco Bell recently signed a 25-year ground lease at the site, located at 1460 Sixth St. ...
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• Colton Biz Park Bought for $12.3 Mil by The Bendetti Company
12/01/20
The Bendetti Company has acquired La Crosse Business Park, a six-building, 113.9k sf, multi-tenant complex in Colton, for $12.3 mil. The property, located at 2273 to 2283 La Crosse Ave, currently has 25 tenants occupying over...
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• New 731k sf Corona Industrial Project Fully Leased Up
11/30/20
Columbia Aluminum Products, Tyger Auto, Mascot International Logistics and Web Deal Direct have signed leases for the entire 731.2k sf of space at Shea Center West Corona, a recently completed, three-building industrial proje...
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• MGR Buys Rancho Cucamonga Office Building
11/27/20
In a recent office buy out of Rancho Cucamonga, MGR acquired a 30.2k sf, multi-tenant building for $3.75 mil ($124/sf). Built in 1986, the building sits on a 95k sf lot. It consists of 17 units with a main lobby, is elevato...
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• MCA Realty Collects $14 Mil from Temecula Industrial Sale
11/24/20
Diaz Commerce Center, a 131.6k sf industrial asset in Temecula, was purchased by a local investor for $14 mil ($106/sf). It was sold by MCA Realty, who initially acquired the property in September 2018 for $10 mil. Located a...
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• Inland Empire Medical Office Building Trades for $7.9 Mil
11/23/20
JKI Investment acquired Latham Medical Plaza, a 31.2k sf, medical office building in Riverside, for $7.85 mil ($252/sf). Located at 4361 Latham St, the property was sold by Jolish Latham LLC and Latham ZG LLC, San Francisco-b...
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• Private Investors Trade Inland Empire Gas Station Property in $6.2 Mil Deal
11/18/20
A free-standing Shell Gas Station and Circle K Convenience Store in the Inland Empire city of Bloomington sold for $6.2 mil. Built in 2001, the well-established Shell station has 8 dispensers with 20 fueling positions and a...
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• Beacon Realty Advisors Buys 10-Acre Retail Asset in La Quinta
11/11/20
Beacon Realty Advisors has purchased Jefferson Square, a partially built open-air retail center on approximately 10 acres in the Coachella Valley city of La Quinta, CA. Beacon acquired the property with joint venture partner ...
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• Redlands Investor Picks Up Temecula Retail Center in $7 Mil Deal
11/10/20
A Redlands, CA-based private investor purchased The Shops at Gateway to Temecula, an 8.3k sf, multi-tenant retail asset, in a recent $7.15 mil ($861/sf) transaction. The property consists of a 24-hour drive-thru Starbucks and...
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• Newegg Hatches Additional Distribution Space with 276k sf Inland Empire Lease
11/05/20
Newegg, an American online retailer of items including computer hardware and consumer electronics, inked a 100-month lease for a 276k sf industrial facility in the Inland Empire. The deal value was not given out. The facilit...
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• Palm Desert Senior Res Community Trades for $3.8 Mil
11/04/20
A 21-unit, senior multifamily community in Palm Desert was purchased by a private investor for $3.8 mil, or $181k/unit. Built in 1990, the property is located at 73625 Catalina Way, east of San Pablo Ave and south of Fred War...
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• Duke Realty Corporation Starts Work on 1.2 msf Inland Empire Distribution Facility
11/04/20
Duke Realty Corporation has broken ground on a 1.2 msf, spec industrial development in the Inland Empire city of Perris. The planned state-of-the-art distribution facility, located on just over 55 acres at 728 West Rider St, ...
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• Harbor Associates and The Bascom Group Team Up in $10 Mil Inland Empire Buy
11/03/20
A joint venture between Harbor Associates LLC and The Bascom Group LLC has acquired Stewart Plaza, a 94.5k sf medical office campus in Upland, for $10.25 mil ($108/sf). The asset was sold by a local family that has owned and ...
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• Colton Biz Property Trades in $6 Mil Transaction
11/03/20
A private investor paid $5.95 mil for Cooley Business Park, a 60.1k sf ($99/sf), multitenant office/flex property in the Inland Empire city Colton. The asset was sold by Oak Properties, a private investor based in San Diego. ...
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• Modway Leases 1 msf Distribution Build-to-Suit in the Inland Empire
11/02/20
Furniture distributor Modway Inc signed a 10-year lease for a new, 1.055 msf distribution facility in Hesperia. Modway, a major distributor of living, dining, bedroom, outdoor, lighting and office furniture, plans to establis...
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