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Prologis To Build Warehouses For BMW In Inland Empire, Dallas

Prologis, Inc. (NYSE: PLD) announced Wednesday it has signed two build-to-suit agreements with BMW of North America, LLC totaling 609,000 square feet for buildings in Redlands, CA, and south of the Dallas market, to be used as logistics space for the luxury carmaker.

The first development of 326,500 square feet will be located in Redlands, CA, at Prologis Redlands Distribution Center 11 in the Inland Empire market. The LEED Silver certified facility…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724?ref=/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724&src=rss

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Shoppes at Creekside Sell for $5.1M

Standard Parking Corp. sold the retail building at 2019 Riverside Ave. in Rialto, CA to Karraa Real Property 2 LLC for $5.125 million, or approximately $293 per square foot.

The property totals 17,480 square feet on more than three acres in San Bernardino County. It was originally built in 2008.

For more information on this transaction, please see CoStar COMPS #2619941.

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361?ref=/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361&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://origin-www-dc.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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MG Properties Closes on $95M Acquisition of Terracina Apts

San Diego-based MG Properties Group (MGPG), a private real estate investor and operator, in partnership with equity provider Rockwood Capital, has acquired the Terracina Apartments at 3303 S. Archibald Ave. in Ontario, CA for $95 million, or about $129,000 per unit, from Archstone.

The 736-unit, 673,280-square-foot multifamily community was built in 1989 on 21 acres in the Airport Area submarket of San Bernardino County. It is located at the intersection…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548?ref=/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548&src=rss

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Market Trend: Inland Empire’s Retail Vacancy Stays at 8.9%

The Inland Empire retail market did not experience much change in market conditions in the fourth quarter 2012.

The vacancy rate went from 8.9% in the previous quarter to 8.9% in the current quarter. Net absorption was negative 108,072 square feet, and vacant sublease space increased by 150,738 square feet. In third quarter 2012, net absorption was positive 312,365 square feet.

Tenants moving into large blocks of space in 2012 include: Walmart…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505&src=rss

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Stirling Completes Construction of Rubbermaid Facility

Stirling Capital Investments announced it has wrapped up a 176,800-square-foot expansion for Newell Rubbermaid, a tenant at the Southern California Logistics Centre (SCLC) in Victorville, CA.

The expansion at the 2,500-acre industrial and commercial complex will accommodate the increased nationwide distribution needs of Rubbermaid, a tenant at SCLC since 2007 which recently committed to a 10-year lease extension.

The project expanded the facility…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365?ref=/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365&src=rss

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Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use.

Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Upland-Bldg-Sells-for-$27M/145074?ref=/News/Article/Upland-Bldg-Sells-for-$27M/145074&src=rss

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Birtcher Center Bldg E Trades for $3.3M

Dmitry Burkovsky, the owner of Ohio-based Miles Transport, purchased the industrial building at 1075 Mount Vernon Ave. in Riverside, CA for $3.25 million, or about $81 per square foot, from Cornerstone Real Estate Advisers LLC. The trucking company will be relocating from a location in Rialto.

Built in 2008, the property totals 39,900 square feet on 2.3 acres, part of the Birtcher Center at Mount Vernon Business Park located at the corner of…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Birtcher-Center-Bldg-E-Trades-for-$33M/145116?ref=/News/Article/Birtcher-Center-Bldg-E-Trades-for-$33M/145116&src=rss

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Colony Apartments Sell for $22.1M

JH Real Estate Partners purchased The Colony Apartments at 102 N. Lemon Ave. in Ontario, CA for $22.1 million, or about $138,000 per unit, from J.H. Snyder Company. The property was 94 percent occupied at time of sale.

Built in 2008, the four-building multifamily complex totals 141,916 square feet on 2.5 acres encompassing an entire block bordering E. B St., Plum Ave. and E. Holt Blvd. in the Airport Area submarket. The Colony is comprised of 80…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Colony-Apartments-Sell-for-$221M/145109?ref=/News/Article/Colony-Apartments-Sell-for-$221M/145109&src=rss

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Kush Warehousing Sells Business Park for $10.4M

South West Medical Resources acquired the Grove Avenue Business Park at 1290 E. Elm St. in Ontario, CA for $10.35 million, or about $74 per square foot, from Kush Warehousing LLC.

Built in 2005 on 8.1 acres in the Airport Area submarket of Inland Empire, the 140,341-square-foot property features a fully-secured yard, six grade-level and 15 dock-height doors with levelers, 30-foot clear heights and T-5 energy efficient lighting. Just minutes from…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Kush-Warehousing-Sells-Business-Park-for-$104M/145117?ref=/News/Article/Kush-Warehousing-Sells-Business-Park-for-$104M/145117&src=rss