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Litek Acquires Chino Industrial For $2.7M

A private investor sold the 33,180-square-foot industrial property at 13970 Benson Ave. in Chino, CA to Litek Composites Corp. for approximately $2.72 million, or $82 per square foot.

The China-based buyer is a manufacturer and supplier of high quality fiber-reinforced plastic (FRP) pipes and fittings.

Built in 2005, the property sits on 1.44 acres located at the southwest of Benson Ave. and Daniels St. in the heart of Chino.

Jason Chao…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Litek-Acquires-Chino-Industrial-For-$27M/143049?ref=/News/Article/Litek-Acquires-Chino-Industrial-For-$27M/143049&src=rss

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Market Trend: Inland Empire’s Retail Vacancy Decreases to 8.8%

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

The vacancy rate went from 8.9% in the previous quarter to 8.8% in the current quarter. Net absorption was positive 233,311 square feet, and vacant sublease space decreased by 88,207 square feet. In second quarter 2012, net absorption was negative 273,001 square feet.

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

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-88/142801?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-88/142801&src=rss

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Market Trend: Inland Empire’s Industrial Vacancy Increases to 7.6%

The Inland Empire Industrial market ended the third quarter 2012 with a vacancy rate of 7.6%.

The vacancy rate was up over the previous quarter, with net absorption totaling negative 601,491 square feet in the third quarter. That compares to positive 1,474,474 square feet in the second quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 1,001,853 square feet.

Tenants moving into large blocks of space in…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543&src=rss

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HQ News: Spending for New Global Headquarters Better Spent Elsewhere

Diebold Inc. is suspending indefinitely its plans to construct a new global headquarters facility in the Akron/Canton, OH, region. The company is instead focusing its resources and strategic direction on generating long-term, sustainable growth, using its assets to capitalize on acquisitive opportunities and invest in technologies and services that will help grow the business.

The company said it has no plans to pursue new construction options…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850?ref=/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850&src=rss