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Cabot Properties Sells Industrial Portfolio for $1.5B

Liberty Property Trust acquired the operating partnership of Cabot Industrial Value Fund III for a purchase price of $1.48 billion.

The transaction allowed for Liberty to increase its industrial platform by approximately 23 million square feet and add 177 properties in 24 new and existing markets to its portfolio. Of the company’s total portfolio purchase, 58 percent of the properties were in existing Liberty markets, including Chicago, South Florida…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Cabot-Properties-Sells-Industrial-Portfolio-for-$15B/153230?ref=/News/Article/Cabot-Properties-Sells-Industrial-Portfolio-for-$15B/153230&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://origin-www-dc.costar.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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Beaumont Retail Trades for $2.5M

A private party purchased the retail property at 1488 E. 2nd St. in Beaumont, CA for $2.5 million, or $500 per square foot, from Fountainhead Development.

Newly constructed in 2013, the single-tenant retail property totals 4,990 square feet on approximately half an acre, part of the San Gorgonio Village shopping center located at the northwest corner of Commerce Ct. and E. 2nd St.

The asset is fully leased to Ramona Tire & Service Center…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Beaumont-Retail-Trades-for-$25M/152969?ref=/News/Article/Beaumont-Retail-Trades-for-$25M/152969&src=rss

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ROIC Closes $186.2M in Shopping Center Acquisitions

Retail Opportunity Investments Corp. (NASDAQ: ROIC) has acquired three grocery-anchored shopping centers spread across the West Coast in separate transactions totaling $153.7 million in the past month. It currently has a binding contract to acquire a fourth grocery-anchored shopping center for an additional $32.5 million.

The company has committed $186.2 million to shopping center acquisitions during the third quarter 2013, bringing its year-to…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/ROIC-Closes-$1862M-in-Shopping-Center-Acquisitions/152930?ref=/News/Article/ROIC-Closes-$1862M-in-Shopping-Center-Acquisitions/152930&src=rss

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Cabot Properties Sells Industrial Portfolio for $1.5B

Liberty Property Trust acquired the operating partnership of Cabot Industrial Value Fund III for a purchase price of $1.48 billion.

The transaction allowed for Liberty to increase its industrial platform by approximately 23 million square feet and add 177 properties in 24 new and existing markets to its portfolio. Of the company’s total portfolio purchase, 58 percent of the properties were in existing Liberty markets, including Chicago, South Florida…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Cabot-Properties-Sells-Industrial-Portfolio-for-$15B/153230?ref=/News/Article/Cabot-Properties-Sells-Industrial-Portfolio-for-$15B/153230&src=rss

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Beaumont Retail Trades for $2.5M

A private party purchased the retail property at 1488 E. 2nd St. in Beaumont, CA for $2.5 million, or $500 per square foot, from Fountainhead Development.

Newly constructed in 2013, the single-tenant retail property totals 4,990 square feet on approximately half an acre, part of the San Gorgonio Village shopping center located at the northwest corner of Commerce Ct. and E. 2nd St.

The asset is fully leased to Ramona Tire & Service Center…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Beaumont-Retail-Trades-for-$25M/152969?ref=/News/Article/Beaumont-Retail-Trades-for-$25M/152969&src=rss

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ROIC Closes $186.2M in Shopping Center Acquisitions

Retail Opportunity Investments Corp. (NASDAQ: ROIC) has acquired three grocery-anchored shopping centers spread across the West Coast in separate transactions totaling $153.7 million in the past month. It currently has a binding contract to acquire a fourth grocery-anchored shopping center for an additional $32.5 million.

The company has committed $186.2 million to shopping center acquisitions during the third quarter 2013, bringing its year-to…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/ROIC-Closes-$1862M-in-Shopping-Center-Acquisitions/152930?ref=/News/Article/ROIC-Closes-$1862M-in-Shopping-Center-Acquisitions/152930&src=rss

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Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale.

Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

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Corona Industrial Sold for $2.6M

HKF, Inc. purchased the industrial building at 1250 Enterprise Ct. in Corona, CA for $2.55 million, or about $96 per square foot, from a family trust.

Built in 1987, the warehouse totals 26,679 square feet on 1.3 acres, part of the Corona Lewis Business Center located at the southeast corner of N. Sherman Ave. in Riverside County. It features two drive-in bays, 20-foot clear heights, and a fenced corner lot.

Ryan Moore of Voit Real Estate…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Corona-Industrial-Sold-for-$26M/151907?ref=/News/Article/Corona-Industrial-Sold-for-$26M/151907&src=rss

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San Bernardino Industrial Trades for $2.7M

Spectra-Tone Paint Corporation has sold its manufacturing building at 1595 E. San Bernardino Ave. in San Bernardino, CA to Lee’s Pottery, Inc. for approximately $2.74 million, or $45 per square foot. The buyer will move from relocate from its current location at the Freeway Business Center in Ontario.

Built in 1978, the industrial property totals 60,800 square feet on five acres at the southwest corner of Richardson St. in the East San Bernardino…

via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/San-Bernardino-Industrial-Trades-for-$27M/151905?ref=/News/Article/San-Bernardino-Industrial-Trades-for-$27M/151905&src=rss