Wednesday , February 8 2023
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Real Estate

Logistics facility sells for $329 million

building sold

A 1.8-million-square-foot warehouse-distribution center in an unincorporated community in Riverside County has been sold for a reported $329 million. Shopoff Realty Investments in Irvine and Artemis Real Estate Partners in Washington, D.C., sold Cherry Valley Logistics Center, to Toronto-based Brookfield Asset Management, according to a statement posted on Feb. 6 …

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Norco service sells for nearly $12 million

Norco service sells for nearly $12 million

A Chevron service station, convenience store, and car wash in Norco have been sold for $11.9 million. The 2.8-acre development at 996 Mountain Ave. sold for its full asking price in a transaction that included all three structures as well as the property, according to Progressive Real Estate Partners in …

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NFI renews lease

Third-party logistics company lands in Fontana

NFI Industries, a third-party logistics company, has renewed its lease at the Perris Distribution Center. Newmark Ontario represented the landlord in the negotiations, Los Angeles-based Ares Management, according to a statement. Terms of the agreement were not disclosed. NFI occupies an 864,000-square-foot building at Perris Distribution Center, a two-story building …

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Industrial building slated for Rancho Cucamonga

Construction has begun on Arrow Business Center, a 49,291-square-foot industrial building in Rancho Cucamonga. The Class-A warehouse distribution facility, which is being developed at 11770 Arrow Route, is expected to be ready for occupancy in September, according to a statement. The project is less than a mile and a half from …

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The project’s name is BIG, for a good reason

Eastvale looks to build civic center, commercial and residential project

Barstow International Gateway, a planned $1.5 billion rail yard, and warehouse-distribution facility, could double that city’s population and over time transform not just Barstow but the High Desert, according to its proponents.     Barstow’s days as a High Desert city best known for being a stopping point between Southern …

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Long-stay hotel planned for San Bernardino

Eastvale looks to build civic center, commercial and residential project

A San Marino developer plans to build an extended-stay hotel in San Bernardino. Paladin Equity Capital will develop an Everhome Suites at 898 E. Harriman Place near Hospitality Lane, a popular dining and shopping district, according to Progressive Real Estate Partners in Rancho Cucamonga. Paladin paid $1.7 million for the …

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