Industrial & Investment Real Estate Brokerage
Just Leased:  49,000/SF Freestanding Manufacturing Warehouse in Riverside, CA

Just Leased:  49,000/SF Freestanding Manufacturing Warehouse in Riverside, CA

Market Trend: Select Top Five Inland Empire Industrial Leases Signed in Q2 2014
The select top industrial lease signed during the second quarter of 2014 in the Inland Empire market was at Empire Gateway Bldg 2 in the West San Bernardino submarket. Yokahama Tire Corporation leased 658,756 square feet there. Colliers International represented the landlord.
Restoration Hardware leased 625,000 square feet at 5085-5125 Schaefer Ave. in the West San Bernardino submarket. Lee & Associates represented the tenant and the landlord in the deal.
Federal Mogul signed a 522,772-square-foot lease at 22750 Cactus Ave. in the Riverside submarket. Colliers International represented the landlord, while CBRE represented the tenant.
Ownes & Minor leased 520,161 square feet at 5125 Ontario Mills Pky in the Airport Area submarket. Lee & Associates represented the landlord.
United Furniture Industries renewed its 505,192-square-foot lease at Distribution Centre 1 in the North San Bernardino submarket. CBRE represented the landlord, while The Bradco Companies represented the tenant.
In the first quarter, Euro-Pro Operating leased 779,052 square feet at Empire Gateway Bldg 1 in the West San Bernardino submarket. Colliers International represented the landlord.
This trend is compared to the U.S. National Industrial select largest lease signings occurring in Q2 2014, which include the 1.7 million-square-foot lease signed by Michelin at RidgePort Logistics Center in the Chicago market, RosKam Baking Co.’s lease of 885,781 square feet in the Western Michigan market, United Furniture Industries’ 800,000-square-foot lease in the Greensboro / Winston-Salem market, CEVA Logistics’ 648,758-square-foot renewal in the Memphis market, and the 620,000-square-foot lease by 99 Cents Only in the Los Angeles market. In the first quarter, Exel leased 947,715 square feet in the Charlotte market.
The information in this news report is based on CoStar’s Second Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.
Newcastle Buys 13 Acres at Meridian Business Park in Riverside

Newcastle   built a 600,000-square-foot, Class A distribution building at Meridian   Business Park in 2013.

RIVERSIDE, CALIF. — Newcastle Partners has acquired 13 acres of land at Meridian Business Park, a 1,290-acre, master-planned commerce center in Riverside, for an undisclosed sum.

Newcastle plans to develop a new speculative industrial distribution facility totaling 260,000 square feet at the site. Construction is expected to begin later this year, with completion slated for next fall.

Newcastle’s development activity within the park now totals 1.37 million square feet on 66 acres of land. It delivered a 600,000-square-foot, Class A distribution building at the end of last year. The company recently finalized plans for an additional 510,000-square-foot, Class A distribution building.

"The quality of Meridian Business Park and its amenities rivals all other state-of-the-art product throughout the Inland Empire region," says Dennis Higgs, Newcastle’s managing partner and founder. "The visibility, access to the freeway system and ports, and quality of its tenant base is unsurpassed. Kia Motors, McLane Foodservice, Sysco Foods and the University of California at Riverside all have located here for these reasons." 

Market Trend: Select Top Five Inland Empire Office Leases Signed in Q2 2014
September 5, 2014
The select top office lease signed during the second quarter of 2014 in the Inland Empire market was at 43455 Business Park Dr. in the South Riverside submarket. EMD Millipore leased 42,299 square feet there. Cassidy Turley represented the landlord in the direct deal.
The County of Riverside Department of Public Health leased 40,353 square feet at The Towers at Riverwalk - Bldg B in the Riverside submarket. Davenport Partners, Inc. represented the landlord in the direct deal.
California Preparatory College signed a 26,785-square-foot lease at 1060 E. Washington St. in the East San Bernardino submarket. Towers & Associates represented the landlord in the direct deal.
Lee & Associates represented the landlord in an 18,181-square-foot lease at Lakeshore Plaza in the South Riverside submarket.
CoStar Group, Inc. leased 10,060 square feet at One Piemonte in the Airport Area submarket. Cushman & Wakefield, Inc. represented the landlord, while Cresa represented the tenant.
This trend is compared to the U.S. National Office select largest new lease signings occurring in Q2 2014, which include the 713,727-square-foot deal signed by Salesforce.com in the San Francisco market; AbbVie's 558,859-square-foot office lease in Chicago; Sandoz, Inc. taking 154,101 square feet in the Northern New Jersey market; Boeing's lease of 144,073 square feet in the Seattle/Puget Sound market; and Time Warner, Inc.'s first-quarter deal totaling 943,438 square feet in New York City.
The information in this news report is based on CoStar’s Second Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.
PPF INDUSTRIAL BUYS ONTARIO INDUSTRIAL

ONTARIO, CALIF. — PPF Industrial LLC has acquired a 386,598-square-foot industrial building in Ontario for $23.8 million. The building is located at 1671 Champagne Ave. The property is situated just east of Interstate 15 and south of Interstate 10 in the Inland Empire West industrial warehouse/distribution submarket. The area is serviced by the Union Pacific Railroad. Notable tenants at the building include Precision Foam LLC, Pacific Urethane and Bericap LLC. The space was renovated and retrofitted in 2011. - See more at: http://www.rebusinessonline.com/main.cfm?id=17&date=20140911&region=Western#sthash.xETvjBgJ.dpuf

New Home Development
August 8, 2014
Joint venture buys future residential site in Corona
A homebuilder and a real estate investment company will buy a large number of high-end residential lots in Corona.
read more…
Home Sales Update
August 21, 2014
Home sales up slightly
Single-family home sales rose in July for the second straight month, although the total number of houses sold once again fell below 400,000.
read more…
Transportation Update
September 4, 2014
Local counties to receive transportation funding
Some planned transportation projects, including several in the Inland Empire, will receive a major financial boost from Sacramento this month.
read more…
Inland Empire Manufacturing Update
September 4, 2014
IE manufacturing still growing, but slowly
Manufacturing in the Inland Empire continued to grow last month, but the pace of expansion in that sector is definitely slowing down.
read more…
CAPROCK PARTNERS ACQUIRES TWO LARGE INDUSTRIAL
                                                                        

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        CAPROCK PARTNERS ACQUIRES TWO LARGE INDUSTRIAL
        LAND SITES IN RIALTO, CALIFORNIA
       
        44 Acres of Premium Inland Empire Land Set for One Million         Square Feet of
        State-of-the-Art Industrial Development

         
        CapRock Partners Receives $50 Million Debt and Equity         Financing Facilitated by Bridgeport Investments

       

 
        IRVINE, Calif. (August 20, 2014) — CapRock Partners, a private         commercial real estate investment firm based in Orange County,         California, today announced the acquisition of the second of two         premium land parcels in Rialto, California. Only one mile apart, the         projects boast ideal freeway access to the 210, 15 and 10 Freeways.         Having fully entitled both projects, CapRock Partners is set to begin         development of more than one million square feet of state-of-the-art         industrial on the two sites this fall.
         
        “These acquisitions have been 18 months in the making, as we carefully         observed the region’s industrial market and the appetites of Fortune         1000 firms for distribution centers in this key location,” said Pat         Daniels, COO and co-founder of CapRock Partners. “During the process,         we leveraged our ability to creatively and strategically structure the         transactions so that we could pursue and obtain all entitlements and         approvals - and complete designs for the two buildings - concurrent to         the close of escrow.”
         
        The first purchase - not previously publicized - is known as CapRock         Distribution Center I and closed at the end of the first quarter of         2014.  Located at the northeast corner of North Locust and West         Bohnert Avenues in Rialto, the site features direct access to the 210         Freeway and is just minutes to the 10/15 Freeway Interchange. The         project encompasses 26.30 net acres of unimproved land and an existing         multi-tenant industrial building, which will be demolished to make way         for a new, 609,888-square-foot, Class A distribution center. Work at         the site is set to begin in September 2014.
         
        The second acquisition - that closed escrow last week - is known as         CapRock Distribution Center II and is located at the northwest corner         of North Linden Avenue and West Casmalia Street in Rialto. Just 500         feet north of the 210 Freeway and serviced by the Locust Street on and         off ramps, this 18.74 net acre parcel of unimproved land is near the         intersection of Interstates 10 and 15, placing it strategically in the         center of key transportation corridors. A 408,164-square-foot,         state-of-the-art distribution center is planned for the site, and is         set to begin construction in late August 2014.
         
              
        “The key to the success in the capitalization of this deal was the         combination of a strong real estate sponsor that has a long history in         this market, combined with an entrepreneurial institutional equity         capital partner, and a creative, relationship-oriented lender,”         said Randy Bramel, Founder and President of Bridgeport         Investments.
         
        A groundbreaking event at the CapRock Distribution Center II site will         be held in September 2014, and will mark the evolution of CapRock         Partners into one of the region’s premier owners and developers of         institutional quality industrial real estate in Southern         California. 

       

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Deal Opportunity: Have a property to submit?  Please call Jon         Pharris, Director of Acquisitions at 949-342-8000 ext. 103 or email at jon@caprock-partners.com