No Comments

Corona Industrial Sold for $2.9M

Tom Hofmann purchased the industrial property at 1128 W. Bradford Cir. in Corona, CA from MT LAM LLC for approximately $2.93 million, or $85 per square foot. The buyer is an owner/user who is relocating his tire business, Freedom Tire Distributing, from another industrial property in the City of Corona.

Built in 1986, the building totals 34,450 square feet on 1.5 acres, part of the Lincoln Business Center located at the southwest corner of N. Lincoln…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Corona-Industrial-Sold-for-$29M/152642?ref=/News/Article/Corona-Industrial-Sold-for-$29M/152642&src=rss

No Comments

Vista Bonita Apts Sell for $3.6M

A private trust purchased the Vista Bonita Apartments at 22822 Palm Ave. in Grand Terrace, CA for $3.55 million, or almost $104,500 per unit, from Blaich Investments-3 LLC.

Built in 1964, the apartment complex totals 35,897 square feet on one acre in San Bernardino County. It consists of 6 three-bedroom, 12 two-bedroom, 14 one-bedroom, and two studio units.

Kevin Struve with Marcus & Millichap represented the seller. Tom Theung of Coldwell…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Vista-Bonita-Apts-Sell-for-$36M/152542?ref=/News/Article/Vista-Bonita-Apts-Sell-for-$36M/152542&src=rss

No Comments

Fontana Industrial Trades for $33.6M

Office Star Products purchased the industrial property at 10651 Elm Ave. in Fontana, CA for $33.6 million, or about $74 per square foot, from developer Overton Moore Properties. The Ontario-based office products manufacturer is expanding its distribution facilities.

Built in 2012, the property totals 454,016 square feet on 18.9 acres at the southeast corner of Elm Ave. and Slover Ave. in the Airport Area submarket.

Steven Bellitti, Thomas…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Trades-for-$336M/151502?ref=/News/Article/Fontana-Industrial-Trades-for-$336M/151502&src=rss

No Comments

ACT Fulfillment Signs 405,000-SF Lease in Fontana

ACT Fulfillment Center, Inc. leased the industrial building currently under construction at 11001 Etiwanda Ave. in Fontana, CA. The supply chain solutions company inked a 65-month lease commencing November 2013.

When completed, the 404,730-square-foot warehouse will sit on 18.7 acres at the southeast corner of Santa Ana Ave. & Etiwanda Ave. in the Airport Area submarket, part of the Carson Etiwanda Logistics Center. The property will feature…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501?ref=/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501&src=rss

No Comments

Brookfield To Boost Industrial Property Holdings with $1.1 Billion IDI Buy

Brookfield Property Partners (NYSE:BPY) has reached an agreement to buy Atlanta-based Industrial Developments International Inc. (IDI) for $1.1 billion.

IDI owns 75 industrial distribution facilities totalling 27 million square feet located in 12 states. The deal also includes IDI’s third party property management business and development sites it controls that can support 49 million square feet of future warehouse distribution projects.

Acquiring…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090?ref=/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090&src=rss

No Comments

Increasing REO Sales Driving CMBS Delinquency Rates Lower

As special servicers continued to ramp up sales of their real estate owned (REO) properties, U.S. CMBS delinquencies fell to their lowest level in more than three years, according to the latest index results from Fitch Ratings.

CMBS late-pays declined 19 basis points (bps) in June to 7.18% from 7.37% a month earlier, the lowest level since March 2010. Fitch said the decline was largely fueled by the sale of $622 million (in stated loan balance)…

via Inland Empire Commercial Real Estate News From CoStar Group http://65.210.23.201/News/Article/Increasing-REO-Sales-Driving-CMBS-Delinquency-Rates-Lower/150170?ref=/News/Article/Increasing-REO-Sales-Driving-CMBS-Delinquency-Rates-Lower/150170&src=rss

No Comments

San Jacinto Retail Trades for $2.3M

A living trust purchased the retail property at 770 Ramona Expy. in San Jacinto, CA for $2.25 million, or about $790 per square foot. The sale represents the buyer’s upleg in a 1031 exchange.

Built in 1993, the freestanding retail building totals 2,850 square feet on half an acre in Riverside County. The asset is currently occupied by Jack in the Box on an absolute, triple-net lease with approximately 16.5 years remaining on the master term.

Peter…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/San-Jacinto-Retail-Trades-for-$23M/149487?ref=/News/Article/San-Jacinto-Retail-Trades-for-$23M/149487&src=rss

No Comments

Hemet Retail Sells for $5.9M

Time Equities, Inc. purchased the retail center at 1111-1189 S. State St. in Hemet, CA, for $5.85 million, or about $101 per square foot, from Wohl Investment Company.

The property was around 93 percent occupied at the time of sale. Built in the 1970s, the asset totals 58,034 square feet on 5.1 acres, part of the Sprouts-anchored Diamond Valley Shopping Center at the southwest corner of S. State St. and W. Stetson Ave.

Eric Wohl of Hanley Investment…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Hemet-Retail-Sells-for-$59M/149293?ref=/News/Article/Hemet-Retail-Sells-for-$59M/149293&src=rss

No Comments

Duke Buys Logistics Portfolio From USAA

CBRE has closed the sale of a 4.86 million-square-foot portfolio of industrial logistics buildings in six states on behalf of USAA Real Estate Co. to Duke Realty (NYSE: DRE).

The eight-building core portfolio of mostly single-tenant net leased buildings “was a great opportunity for Duke Realty to acquire a critical mass of bulk industrial product in a single transaction,” according to a release by CBRE, which represented seller USAA in the deal…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Duke-Buys-Logistics-Portfolio-From-USAA/149600?ref=/News/Article/Duke-Buys-Logistics-Portfolio-From-USAA/149600&src=rss

No Comments

Minka Lighting Signs 355,000-SF BTS Lease

Minka Lighting, Inc. has signed a 354,810-square-foot, build-to-suit industrial lease for a new location at San Michelle Rd. and Indian Ave. in Moreno Valley, CA. The tenant will be relocating from its current location at nearby 23700 Cactus Ave.

Alere Property Group owns the site and is developing the property, its first build-to-suit. Minka will occupy the entire building, which will sit on 15.8 acres in Riverside County. Plans call for 44…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501?ref=/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501&src=rss