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Inland Empire Industrial Keeps Heating Up

ONTARIO, CA–Vacancies are dropping and new construction soaring as logistics companies grow and e-retailers increase their appetites for large distribution and warehousing centers, Colliers International tells GlobeSt.com EXCLUSIVELY .

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REDA Launches Two Industrial Builds

NEWPORT BEACH, CA–A joint venture between the Bascom Group and Real Estate Development Associates is behind the two speculative projects, totaling 500,000 square feet and located in the Inland Empire and Los Angeles.

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Town to Receive Two Industrial Builds

FONTANA, CA–An affiliate of CT Realty purchases 17.3 acres of land here to develop two class-A industrial buildings totaling 358,410 square feet, an underserved product in the Inland Empire West submarket.

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Riverside Office Sells for $1M

California Psychcare, Inc. purchased the Holstein Professional Building at 4300 Latham St. in Riverside, CA from private owners for $1 million, or about $80 per square foot.

Built in 1986, the three-story office property totals 12,481 square feet and sits on 0.69 acres in the Riverside submarket. The facility was vacant at time of sale, but the buyer will occupy the second and third floors of the property, which total 8,321 square feet.

Jennifer…

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8.8 Acre REO Land Sells for $3.6M

CT Realty Investors purchased the 8.8-acre lot at 15996 Jurupa Ave. in Fontana, CA for $3.6 million from ATC Realty One LLC in an REO sale following a foreclosure in 2012.

The buyer plans to build an industrial building between 180,000 and 200,000 square feet there.

The land is located at the northeast corner of Catawba Ave. in the Airport Area submarket of San Bernardino County.

Thomas Taylor, Steven Bellitti, Summer Coulter, Joshua Hayes…

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Ashley Furniture Leases 75,000-SF in Colton

Ashley Furniture Industries, Inc. has signed a three-year lease for 75,377 square feet of industrial space at 1501 Cooley Dr. in Colton, CA.

Built in 2004, the building totals 123,711 square feet on 7.4 acres in the East San Bernardino submarket, part of the Cooley Ranch Business Park at the southwest corner of the 10 and 215 Freeways. Ashley Furniture will share the building with Banner Mattress Company.

Tal Siglar and Mark Zorn of Colliers…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460?ref=/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460&src=rss

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Norco Retail Acquired for $4.4M

Barrett Heritage LLC purchased the retail building at 3699 Hamner Ave. in Norco, CA from Hunt Electronic USA, Inc. for $4.41 million, or approximately $340 per square foot, in an auction sale.

Built in 2005, the building totals 12,954 square feet on 1.2 acres, part of the Norco Freeway Retail Center, located at the southeast corner of 6th St., west of the 15 Freeway. Consisting of ten retail spaces, the asset was 90 percent leased at the time…

via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Norco-Retail-Acquired-for-$44M/154459?ref=/News/Article/Norco-Retail-Acquired-for-$44M/154459&src=rss

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Norco Retail Acquired for $4.4M

Barrett Heritage LLC purchased the retail building at 3699 Hamner Ave. in Norco, CA from Hunt Electronic USA, Inc. for $4.41 million, or approximately $340 per square foot, in an auction sale.

Built in 2005, the building totals 12,954 square feet on 1.2 acres, part of the Norco Freeway Retail Center, located at the southeast corner of 6th St., west of the 15 Freeway. Consisting of ten retail spaces, the asset was 90 percent leased at the time…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Norco-Retail-Acquired-for-$44M/154459?ref=/News/Article/Norco-Retail-Acquired-for-$44M/154459&src=rss