Commercial
Bloomington, CA — Giovanni Cavaletto, Vice President of Operations at Index Fresh, announced the appointment of T.J. Salinas as Southern California Field Representative. He will serve avocado growers in Riverside and San Diego counties. “T.J. brings his valuable experience of a life spent in agriculture to the Index Fresh position. His hands-on experience gives him a unique understanding of growers and their specialized needs within the industry,” Cavaletto stated. T.J. grew up in agriculture, living in Fallbrook and Anza, California, where he garnered daily experience at his father’s horse ranch. His love for farming has always been an...
RANCHO CUCAMONGA, Calif. (Sept. 20, 2011)—The Alliance Group Commercial Construction Inc., a full-service commercial construction general contracting firm, was selected by Vanir Development to handle tenant improvements for the main lobby of the Vanir Tower, a high-rise office building located at 290 North D Street in San Bernardino. The Alliance Group has recently completed tenant improvements for the tower’s 5th and 8th floors, which are occupied by the Internal Revenue Service and the U.S. Department of Homeland Security. Other tenants of the 132,000 square-foot, nine-story tower include County of San Bernardino Economic Development, California Central Probation Office and the U.S....
INLAND EMPIRE, Calif. (Sept. 1, 2011)–CREW (Commercial Real Estate Women) Inland Empire’s September luncheon, titled “Environmental Impacts and the Economy,” will focus on California’s environmental laws and their effect on economic and commercial real estate development. The event will be held on Wednesday, Sept. 14 from 11:30 a.m. to 1 p.m. at the new Embassy Suites Ontario Airport Hotel, 3663 East Guasti Rd in Ontario. Michelle Ouellette, Environmental Law & Natural Resources practice group partner at Best Best & Krieger LLP, will be the luncheon’s keynote speaker. Ouellette will examine the current face of environmental law and the impact these laws...
INLAND EMPIRE, Calif. (Aug. 29, 2011)—The Inland Empire Economic Recovery Corporation (IEERC) recently donated $1,000 to HomeAid Inland Empire, the Building Industry Association’s local nonprofit charity. IEERC’s contribution is part of its efforts to aid inland families and communities in need. The donation will be used to support Veronica’s Home of Mercy, a shelter located in San Bernardino for local homeless and abused women and their children. HomeAid Inland Empire built and completed the shelter in 2010, which is currently home to 80 women and children. “As the corporation enters the next phase, charitable assistance will be a new facet...
Corona, Calif., August 22, 2011 – Newcastle Partners, Inc., a real estate investment and development company, and capital partner HG Capital, LLC, have announced the acquisition of Corona Gateway, a three-story, Class A office building totaling 68,000 square feet. Built in 2008, the property is located at 4740 Green River Road directly off the 91 Freeway in Corona, Calif. The bank-owned property was 25 percent occupied at the close of escrow. According to Newcastle Partners’ founder and CEO Dennis Higgs, the partnership acquired the building as a REO property. “This acquisition was a good fit with Newcastle Partners’ aggressive strategy...
ONTARIO, CALIF., Aug. 16, 2011 — Jones Lang LaSalle has hired 14-year industry veteran Jeff Bellitti as Vice President to help increase the firm’s industrial business, representing tenants and landlords in leasing and acquisitions in Southern California’s Inland Empire market. Bellitti, based in the firm’s Inland Empire office, will partner with Executive Vice President Mike McCrary and Managing Director Peter McWilliams. “Jeff will play a significant role in working with Mike and Peter to help our growing client base in the Inland Empire office,” said Jan Pope, Jones Lang LaSalle’s Southern California Market Director. “The Inland Empire, in particular, has set the...
Temecula, Calif., August 18, 2011 – Faris Lee Investments, the nation’s largest retail-specialized investment sales and advisory firm, has completed the $5.65 million sale of a fully occupied 14,500 square foot retail property located at the entrance of Promenade Temecula, a 1.14 million square foot regional mall in Temecula, Calif. Built in 2000, the property is situated on 1.92 acres and is located at 26520-26550 Ynez Road. The property includes a 6,900 square foot Tilted Kilt Pub & Eatery as well as a shops building that includes Jamba Juice, Ming’s Restaurant, Pacific Pita, & Promenade Dental Care. Jeff Conover and Rich...
RANCHO CUCAMONGA— The Alliance Group Commercial Construction Inc., a full service commercial construction general contractor, is pleased to announce that Bill Weisgerber has joined the firm as superintendent. Weisgerber is a construction veteran with more than 25 years of industry experience in the commercial and residential sectors. Consistent with the services provided by The Alliance Group, Weisgerber specializes in tilt-up buildings and tenant improvements. “Our company prides itself on recruiting skilled and experienced individuals that understand our dedication to providing high-quality, cost-efficient products and service,” said Joseph Freeno, president of The Alliance Group. “Bill Weisgerber has an impressive track record,...
Property breaks sales record of $616 per square foot, the highest price for a Single-tenant drug store building for the area since 2007 Victorville, CA – Faris Lee Investments, the nation’s largest retail-specialized investment sales and advisory firm, has completed the $7.95 million sale of a 12,900 square foot single tenant property occupied by CVS Pharmacy in Victorville, Calif. Built in 2010 and featuring a long-term absolute NNN 25-year lease with CVS, the sale set a record of $616 per square foot which is the highest price for a single tenant drug store building in the Inland Empire since 2007. Nick Coo...
Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT III affiliate, has acquired Dupont Business Center located in Ontario, California. This 111,890 square foot acquisition is Cobalt’s first investment in the Inland Empire. “This acquisition represents Cobalt’s initial entrance into the Inland Empire market. As a vacant property, it fits well with our value-add strategy. Moreover, its in-fill location in the western Inland Empire submarket, makes it an attractive asset for our typical tenant customer,” says Lew Friedland, Managing Partner of Cobalt Capital Partners. ”We are continuing to look for additional investment opportunities in LA and plan to expand our footprint in that market over time.” Located...
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