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Crayons Bldg Sells For $1.4 Million

A private investor sold the 10,280-square-foot Palm Springs office building, known as the Crayons Building for $1.35 million, or approximately $131 per square foot.

The property is located at 1109-1117 N Palm Canyon Dr. The buyer is another private investor who will continue to lease out the remaining office spaces.

Rob Wenthold and Steve Lyle of Coldwell Banker Commercial / Lyle & Associates represented the seller. Mark Spohn of Sperry Van…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Crayons-Bldg-Sells-For-$14-Million/153703?ref=/News/Article/Crayons-Bldg-Sells-For-$14-Million/153703&src=rss

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Stoneridge Apts. in Upland Sells for $42 Million

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $140,000 per unit.

Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange.

Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the deal…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780?ref=/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780&src=rss

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Indiana Professional Plaza Acquired for $1.4M

20-20 Vision Associates purchased the 10,970-square-foot office park known as Indiana Professional Plaza, located at 7359-7379 Indiana Ave. in Riverside, CA, for $1,371,250, or approximately $125 per square foot.

The buyer, an optometrist, is relocating from within the city of Riverside and plans to occupy the 7,200-square-foot building at 7379 Indiana Ave. for its business. The current tenant in 7359 Indiana Ave, a real estate firm, will continue…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Indiana-Professional-Plaza-Acquired-for-$14M/153661?ref=/News/Article/Indiana-Professional-Plaza-Acquired-for-$14M/153661&src=rss

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Stoneridge Apartments Sell for $42M

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $165.71 per square foot.

Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange.

Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stoneridge-Apartments-Sell-for-$42M/153780?ref=/News/Article/Stoneridge-Apartments-Sell-for-$42M/153780&src=rss

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Crayons Bldg Sells For $1.4M

Susan Kuo sold the 10,280-square-foot Palm Springs office building, known as the Crayons Building, to JR Roberts for $1.35 million, or approximately $131 per square foot.

The property is located at 1109-1117 N Palm Canyon Dr. The buyer is a private investor who will continue to lease out the remaining office spaces.

Rob Wenthold and Steve Lyle of Coldwell Banker Commercial Lyle & Associates represented the seller. Mark Spohn of Sperry Van Ness…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Crayons-Bldg-Sells-For-$14M/153703?ref=/News/Article/Crayons-Bldg-Sells-For-$14M/153703&src=rss

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Indiana Professional Plaza Acquired For $1.4M

20-20 Vision Associates purchased the 10,970-square-foot office park known as Indiana Professional Plaza, located at 7359-7379 Indiana Ave. in Riverside, CA, from Donald Emas for $1,371,250, or approximately $125 per square foot.

The buyer, an optometrist, is relocating from within the city of Riverside and will occupy the 7,200-square-foot building at 7379 Indiana Ave. The current tenant in 7359 Indiana Ave, a real estate firm, will continue to…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Indiana-Professional-Plaza-Acquired-For-$14M/153661?ref=/News/Article/Indiana-Professional-Plaza-Acquired-For-$14M/153661&src=rss

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Riverside LA Fitness Trades for $13.9M

Cole Credit Property Trust IV, Inc. purchased the retail property at 3437 Arlington Ave. in Riverside, CA for $13.88 million, or about $279 per square foot, from Westminster Arlington LLC.

The asset is currently 100 percent leased to LA Fitness through April of 2038 on a triple-net basis.

Originally built in 2010 and with an additional 7,461 square feet added in 2013, the health club totals 49,661 square feet on 5.6 acres, part of the Arlington…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Riverside-LA-Fitness-Trades-for-$139M/153542?ref=/News/Article/Riverside-LA-Fitness-Trades-for-$139M/153542&src=rss

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Market Trend: Inland Empire’s Office Vacancy Decreases to 12.3%

The Inland Empire Office market ended the third quarter 2013 with a vacancy rate of 12.3%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 482,133 square feet in the third quarter. That compares to positive 376,367 square feet in the second quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 44,964 square feet.

Tenants moving into large blocks of space in 2013 include…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-123/153515?ref=/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-123/153515&src=rss

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Temecula Shopping Center Trades for $18.5M

Pathfinder Partners LLC purchased the Bel Villaggio shopping center for $18.5 million in two separate transactions. The San Diego-based investment firm purchased Bel Villaggio I and II from CW Capital Asset Management for $12.75 million, or about $165 per square foot, and the Bel Villaggio III for $5.7 million, or about $139 per square foot, from LNR Property Corporation.

Bel Villaggio I & II was built in 2002 and totals 77,275 square feet, while…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Temecula-Shopping-Center-Trades-for-$185M/153261?ref=/News/Article/Temecula-Shopping-Center-Trades-for-$185M/153261&src=rss

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New Owners for 182,000-SF Ontario Industrial

Denver-based Amstar Advisers LLC and a joint venture between Huntington Industrial Partners & BlackRidge Real Estate Group purchased the industrial investment property at 1650 S. Archibald Ave. in Ontario, CA from Corsair Management LP.

This sale represents the seller’s downleg in a 1031 exchange.

Built in 1994, the building totals 182,000 square feet on almost ten acres located at the southwest corner of E. Mission Blvd. and S Archibald Ave…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/New-Owners-for-182000-SF-Ontario-Industrial/153260?ref=/News/Article/New-Owners-for-182000-SF-Ontario-Industrial/153260&src=rss