| Corona Residential Property Traded Between SoCal Investors in a $4.57 Mil Deal
Lakeside Villas Apartments, a 21-unit community in Corona, has sold in a recent $4.57 mil ($218k/unit) transaction. The property, 100% occupied with strong cash flow, is considered to present significant value-add upside.
| Advanced Real Estate Services Pays $130 Mil for 346-Unit Res Asset in Chino Hills
Advanced Real Estate Services Inc has acquired The Crossings, a 346-unit, newly-built multifamily property in Chino Hills, in a recent transaction valued at $130 mil ($375k/unit). The firm purchased this property with 1031 ex...
| New Single-Tenant Grocery Outlet Asset in Norco Sells for $333/sf
A newly-constructed, 18k sf single-tenant property occupied by Grocery Outlet in Norco was acquired for $6 mil ($333/sf) by a family investment entity. The property, situated on 1.72 acres at 1428 Sixth St, just east of I-15,...
| Logistics Firm Leases New 1.08 msf Industrial Facility in the Inland Empire
An unnamed, third-party logistics firm signed a long-term lease for an entire 1.08 msf logistics building currently under construction in the Inland Empire. The building sits on a 54.7-acre site at 9180 Alabama St, at the int...
| Newcastle Partners is Busy Building Industrial Space in the Inland Empire
Newcastle Partners is readying to start speculative construction of three new industrial facilities in the Inland Empire totaling 824.3k sf of state-of-the-art space. The new construction follows completion of 479.9k sf of in...
| Inland Empire Retail Center Picked Up by Private Investor in $5.3 Mil Deal
An L.A.-based pivate investor purchased Foothill Village, a 24.9k sf, un-anchored multi-tenant retail center in Fontana, for $5.3 mil ($213/sf) as part of a 1031 exchange.
Foothill Village is located at 14755 Foothill Blvd, ...
| Riverside Distribution Facility Purchased for $44 Mil by Loctek Inc
A recently completed, 361.3k sf state-of-the-art warehouse building in Riverside was purchased by Loctek Inc for $44.4 mil, or $123/sf. Loctek, a Chinese-based ergonomic office furniture manufacturer, is relocating and expand...
| CT Realty and PGIM Real Estate to Develop 4.4 msf Logistics Project in the Inland Empire
CT Realty and PGIM Real Estate plan to develop a state-of-the-art, multi-building logistics project in the Inland Empire. The fully entitled 4.4 msf development, Agua Mansa Commerce Park, has undergone significant predevelopm...
| SoCal Starbucks Trades for $1,176/sf
A 3.2k sf, single-tenant Starbucks Drive-Thru in the city of Lake Elsinore sold for $3.765 mil ($1,176/sf), at a closing cap rate of 4.25%. The asset is a pad building within Lake Elsinore Marketplace, a 144k sf shopping cent...
| Temecula Raising Cane’s Trades for $1,728/sf
A 3.9k sf, single-tenant retail property occupied by Raising Cane’s in Temecula sold for $6.8 mil, in a deal we’re told is the highest price ever paid on a national basis for a Raising Cane’s-leased asset ($1,728/sf - per CoS...
| Wood Investments Companies Buys Single-Tenant Retail Asset in Chino Hills
In a recent SoCal retail investment deal, Wood Investments Companies Inc purchased a 28.2k sf, single-tenant property occupied by 99 Cents Only Stores on just over two acres in Chino Hills for $2.5 mil ($89/sf).
99 Cents On...
| Rockefeller Group Acquires 30 Acres in Riverside County for 623k sf of Industrial Development
Rockefeller Group has acquired approximately 30 acres of property in Riverside County for the development of 623.1k sf of Class "A" industrial distribution space.
The first project, being marketed as the Val Verde Logistics...
| Inland Empire Industrial Park Trades Hands
A SoCal-based 1031 exchange investor purchased Moreno Corporate Center, a five-building, 139k sf industrial park in Moreno Valley. The property was approximately 95 percent occupied by more than 45 tenants at the close of esc...
| Advanced Real Estate Services Secures $240 Mil in Refi Money on Six SoCal Multifamily Assets
Advanced Real Estate Services Inc has completed $240.44 mil in refinancings on six SoCal multifamily communities totaling 1,223 units. The Freddie Mac and Fannie Mae financings were arranged by NorthMarq Capital and generated...
| Low Income Housing Complex in Needles Trades for $28k per Unit
An 81-unit, low-income housing property in the city of Needles sold for $2.25 mil, or $28k per unit. The property, River Garden Apartments, has rent restrictions in place.
Located at 1970 Clary Dr, River Garden Apartments is...
| SoCal Industrial Sales Comp Total $15 Mil
Here are a couple of brief SoCal industrial property sales comps, from Fullerton and Murrieta. The deals total roughly $15 mil.
In Fullerton, a freestanding, 48.2k sf building traded for $10.01 mil, or $208/sf. The property ...
| Private Investor Pays $392/sf for Rite Aid Building in the Inland Empire
A 12.2k sf Rite Aid building in Desert Hot Springs sold for $4.8 mil, or about $392 per square foot. The building is located at 12900 Palm Drive, in the northeast quadrant of Hacienda Ave and Palm Rd.
The asset was acquired ...
| Exchange Investor Pays $4 Mil for Corona Industrial Building
A 1031 exchange buyer paid $3.98 mil for a 22.5k sf ($177/sf) industrial building in Corona. The property is situated on on 1.12 acres at 1160 California, west of I-15 and south of Magnolia Ave.
Built in 1990, the property p...
| Royal Gourmet Corp Leases 65k sf of Industrial Space in the Inland Empire
Royal Gourmet Corp signed a 74-month lease for 65k sf of industrial space in Riverside. The Peachtree Corners, GA-based firm’s new space is within Hunter Highland Corporate Center, a 211.2k sf, Class A building located at 799...
| North American Commercial Real Estate Market Reacts Sharply to Economic Downturn
This report was provided to us by Transwestern
After a strong start to 2020, the impacts of COVID-19 on the commercial real estate industry became evident during the second quarter. The Midyear Market Sentiment Survey just r...