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December 5, 2023
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INLAND EMPIRE NEWS
Archive
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• Temecula Industrial Building Trades for $127/sf
4/29/20
Stos Partners purchased a 228.9k sf industrial building in Temecula for $29 mil, or $127/sf. Weíre told the sale marks the highest price per square foot in the above 100k sf industrial market in southwest Riverside County his...
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• Single-Tenant Starbucks in SoCalís Imperial Valley Sells for Over $1,000/sf
4/28/20
A Los Angeles-based private investor paid $2.858 mil for a new construction, single-tenant Starbucks with a drive-thru located in SoCalís Imperial Valley. The 2.6k sf property ($1,089/sf) was sold by the buildingís developer,...
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• Inland Empire Industrial Building Gets New Owner in $12.9 Mil Transaction
4/28/20
Dermody Properties recently acquired a 103.4k sf industrial building in Ontario for $12.9 mil, or $125/sf. The building sits on 5.79 acres at 3120 E. Mission Blvd, north of Hwy 60 and west of I-15. The 3120 Mission Blvd buil...
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• Temecula Office Building Gets New Owner in $5 Mil Deal
4/22/20
Jefferson Commerce Center, a 32.2k sf, multi-tenant office building in Temecula, has traded hands in a $5.1 mil ($158/sf) transaction. The three-story, Class B building is located on 2.22 acres at 27710 Jefferson Ave, south o...
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• Quick N Clean Car Wash Buys One-Acre Site in Victorville
4/20/20
Quick N Clean Car Wash paid $1.55 mil for a one-acre land parcel in Victorville. The land, located at 14812 Bear Valley Rd, will be the site of the firmís first location in SoCalís Mojave River Valley region. The new self-se...
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• Inland Empire Industrial Market Maintains Strong First Quarter
4/15/20
This quarterly update was provided to us by real estate services firm Kidder Mathews The Inland Empire industrial market did not show any slowing as market fundamentals held steady in the first quarter, despite effects of Co...
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• Uline Inks Deal for 1.25 msf Distribution Facility in Ontario
4/14/20
Uline has agreed to lease a 1.245 msf distribution facility from REDA and Clarion Partners LLC in Ontario. The building is located at 4815 South Hellman Ave, west of Archibald Ave between Mission Blvd and the 60 Fwy, within t...
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• Inland Empire Res Community Trades for $45.5 Mil
4/14/20
The Heights at Grand Terrace, a 228-unit community in Grand Terrace, was acquired by an East Coast-based investment entity for $45.5 mil, or $199.6k/unit. The property is located at 22491 DeBerry St, south of I-10 and just ea...
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• New Starbucks with Drive-Thru in the Inland Empire Sells for $1,722/sf
4/01/20
A brand-new, 1.8k sf single-tenant Starbucks with a drive-thru in Twentynine Palms sold for $3.1 mil, which works out to $1,722/sf. Built in 2020, the property is located on 0.54 acres at 73690 Twentynine Palms Hwy. The pro...
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• Palm Desert Res Community Sells for $171k/Unit
4/01/20
A SoCal-based investment group purchased Royal Palms Condominiums, a 52-unit community in Palm Desert, for $8.9 mil, or $171k per unit. The property, located at 40890 Sandy Gale Lane, received multiple offers. Built in 1985,...
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• Providence Capital Group Spends $68 Mil on Rancho Cucamonga Arte Project
3/31/20
Arte, a 182-unit, luxury apartment community in Rancho Cucamonga, was acquired by an affiliate of Providence Capital Group Inc for $68 mil, or $373.6k/unit. The asset, located at 10130 Foothill Blvd, was sold by Fore Property...
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• Investor Exchanges into Beaumont Commercial Property
3/30/20
Highland Springs Medical Arts Building, a 14.8k sf medical office building in Beaumont, was purchased by a private, 1031 exchange investor for $3 mil, or $203/sf. The property is located at 701 Highland Springs Ave. Highland...
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• Rancho Cucamonga Retail Center Sells for $13.75 Mil
3/26/20
Shops to Victoria Gardens, a 31.4k sf retail strip center adjacent to the Victoria Gardens lifestyle center in Rancho Cucamonga, sold for $13.75 mil ($438/sf). It was sold by Fit Development. Situated on 2.65 acres at 12455 ...
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• Inland Empire Self-Storage Facility Trades
3/19/20
Upland Self Storage, an 834-unit self-storage facility located in Upland, was purchased by an unnamed institutional investor. The 70.6k sf facility sits on 5.2 acres at 135 South Campus Ave, north of I-10 and east of Euclid A...
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• 64k sf Riverside Office Building Sells
3/18/20
A 63.8k sf, Class A office building in Riverside traded hands in a recent transaction. The building, located at 2300 Market St, was acquired by and L.A.-based private investor and was sold by Dornin Investment Group. The bui...
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• Moreno Valley Multifamily Property Goes for $138k/Unit
3/10/20
Bevia Apartments, a 48-unit multifamily property in Moreno Valley, was purchased by a local buyer for $6.65 mil, or $138.5k/unit. Located 13260 Heacock St, Bevia Apartments is a two-story, garden-style apartment community ori...
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• Rockefeller Group Picks Up 7.8 Acres of Development Land in Otay Mesa
3/09/20
Rockefeller Group has purchased a 7.81-acre improved land parcel in Otay Mesa on which the company intends to develop a 138.5k sf distribution center to be called Airway Industrial Park. The site is zoned for industrial use a...
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• Temecula Biz Campus Traded in $11 Mil Deal
3/06/20
A Los Angeles-based private investor acquired Temecula Corporate Park, an 86.9k sf, multi-tenant office and industrial park in Temecula, in a recent $10.9 mil transaction. The property is located at 43379, 43385, 43391 and 43...
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• Commercial Building in San Bernardino Acquired by Credit Union for New HQ Location
3/02/20
Thinkwise CU paid $2.25 mil for a vacant, 18.3k sf ($123/sf) commercial building located at 599 North E Street in the heart of San Bernardinoís downtown civic center area. The property will be used as the headquarters and pri...
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• Renaissance Marketplace Adds 500k sf Destination Retail Center in Rialto
2/27/20
Renaissance Marketplace, a new, 500k sf retail center in Rialto, was completed last year by Lewis Retail Centers. It is located at 1309 West Renaissance Pkwy, west of Ayala Dr and adjacent to the south side of the 210 Fwy. T...
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