IE Business Daily Business news for the Inland Empire.
Newmark Grubb Knight Frank has completed the sale of Empire Towers I-IV, an office development in Ontario.
The complex, which covers 400,976 square feet, sold for $78.5 million, according to a statement released Tuesday.
The seller was a joint venture between CIP Real Estate in Irvine and Guggenheim Partners LLC, which is based in New York and Chicago. The buyer was MGR Real Estate in Upland.
The property, which was built between 1991 and 2005, consists of one nine-story building and three three-story buildings. It’s located south of Interstate 10 near Haven Avenue, near Ontario International Airport.
Empire Towers is currently 88 percent leased. Its tenants include Merrill Lynch, Wells Fargo, City National Bank and Liberty Mutual, according to the stateme
