A San Diego-based investor has bought two apartment complexes in Colton for $41 million.
Tower 16 Capital Partners bought a combined 214 units in at The 1333 Canyon project (104 units built in 1986) and the Reche Ridge Apartments (110 units built in 1985). The seller was unidentified in the off-market transaction.
“The Inland Empire continues to be a strong market for multifamily housing,” said Tower 16 Co-Founder Mike Farley. “We believe the demand drivers for multifamily housing will continue to grow in the coming years while new supply will remain very low. It’s likely this imbalance will result in strong rent growth in the submarket for the next several years.”
Tower 16 execs said they intend to build a portfolio of more than 2,000 units in the Inland Empire market over the next several years.
Santa Anita horse racing consensus picks for Saturday June 5
The 1333 Canyon Apartments at 1333 Reche Canyon Road has a clubhouse, gym and pool. Reche Ridge at 2270 Cahuilla St. has covered parking, a clubhouse, gym and pool areas.
Tower 16 said it will spend nearly $4 million in upgrades and renovations at both properties. Units will get modernized along with the clubhouses, gyms and pool areas. New amenities include barbeques, seating and outdoor gaming areas.
Scott Peterson, Bill Chiles and Morgon Fraser of the San Diego CBRE Capital Markets team arranged debt financing for Tower 16.
A 5-acre truck terminal facility at 11205 Cedar Ave. in Bloomington has sold for $6,300,000, or $1,260,000 per acre. Alicia Hornyak with NAI Capital Commercialâs Ontario office represented the unidentified seller in the transaction. (Courtesy of NAI Capital)
Truck terminal sells for $6.3M
A 5-acre truck terminal facility at 11205 Cedar Ave. in Bloomington has sold for $6,300,000, or $1,260,000 per acre.
Alicia Hornyak with NAI Capital Commercial’s Ontario office represented the unidentified seller in the transaction.
“The depletion of land in the West Inland Empire is driving up development, land, rent, and sales prices in the East.” Hornyak said in a statement. “We are seeing phenomenal growth, fueling higher prices. Improvements to this property will only increase its value.”
Burlington Stores is hiring 100 people ahead of the debut of its new distribution center at 21600 Cactus Ave. in Riverside, which is opening Tuesday, May 17. Most of the jobs are full-time, and new hires will earn a base wage of â¯$16-$18 hourly, the company said. Applicants can apply online at burlingtonstores.jobs or attend a hiring event from 9 a.m. to 1 p.m. Thursday, May 13. (Courtesy of Burlington Stores)
New distribution center hiring 100
Burlington Stores is hiring 100 people ahead of the debut of its new distribution center in Riverside, which is opening Tuesday, May 17.
Most of the jobs are full-time, and new hires will earn a base wage of $16-$18 hourly, the company said. Applicants can apply online at burlingtonstores.jobs.
Available positions include first and second shifts, full-time warehouse associates and supervisors. Benefits include health insurance, a 401(k), flexible shifts and performance-based bonuses.
Burlington reps said the company will have Spanish-speaking employees available to help with interviews. Many applicants can expect to get a job offer on the spot.
The company said the center will be equipped with new pallet technology and is one of the largest distribution centers for Burlington at nearly 900,000 square feet.
Address: 21600 Cactus Ave.
A San Diego-based investor has bought two apartment complexes in Colton for $41 million.
Tower 16 Capital Partners bought a combined 214 units in at The 1333 Canyon project (104 units built in 1986) and the Reche Ridge Apartments (110 units built in 1985). The seller was unidentified in the off-market transaction.
“The Inland Empire continues to be a strong market for multifamily housing,” said Tower 16 Co-Founder Mike Farley. “We believe the demand drivers for multifamily housing will continue to grow in the coming years while new supply will remain very low. It’s likely this imbalance will result in strong rent growth in the submarket for the next several years.”
Tower 16 execs said they intend to build a portfolio of more than 2,000 units in the Inland Empire market over the next several years.
Santa Anita horse racing consensus picks for Saturday June 5
The 1333 Canyon Apartments at 1333 Reche Canyon Road has a clubhouse, gym and pool. Reche Ridge at 2270 Cahuilla St. has covered parking, a clubhouse, gym and pool areas.
Tower 16 said it will spend nearly $4 million in upgrades and renovations at both properties. Units will get modernized along with the clubhouses, gyms and pool areas. New amenities include barbeques, seating and outdoor gaming areas.
Scott Peterson, Bill Chiles and Morgon Fraser of the San Diego CBRE Capital Markets team arranged debt financing for Tower 16.
A 5-acre truck terminal facility at 11205 Cedar Ave. in Bloomington has sold for $6,300,000, or $1,260,000 per acre. Alicia Hornyak with NAI Capital Commercialâs Ontario office represented the unidentified seller in the transaction. (Courtesy of NAI Capital)
Truck terminal sells for $6.3M
A 5-acre truck terminal facility at 11205 Cedar Ave. in Bloomington has sold for $6,300,000, or $1,260,000 per acre.
Alicia Hornyak with NAI Capital Commercial’s Ontario office represented the unidentified seller in the transaction.
“The depletion of land in the West Inland Empire is driving up development, land, rent, and sales prices in the East.” Hornyak said in a statement. “We are seeing phenomenal growth, fueling higher prices. Improvements to this property will only increase its value.”
Burlington Stores is hiring 100 people ahead of the debut of its new distribution center at 21600 Cactus Ave. in Riverside, which is opening Tuesday, May 17. Most of the jobs are full-time, and new hires will earn a base wage of â¯$16-$18 hourly, the company said. Applicants can apply online at burlingtonstores.jobs or attend a hiring event from 9 a.m. to 1 p.m. Thursday, May 13. (Courtesy of Burlington Stores)
New distribution center hiring 100
Burlington Stores is hiring 100 people ahead of the debut of its new distribution center in Riverside, which is opening Tuesday, May 17.
Most of the jobs are full-time, and new hires will earn a base wage of $16-$18 hourly, the company said. Applicants can apply online at burlingtonstores.jobs.
Available positions include first and second shifts, full-time warehouse associates and supervisors. Benefits include health insurance, a 401(k), flexible shifts and performance-based bonuses.
Burlington reps said the company will have Spanish-speaking employees available to help with interviews. Many applicants can expect to get a job offer on the spot.
The company said the center will be equipped with new pallet technology and is one of the largest distribution centers for Burlington at nearly 900,000 square feet.
Address: 21600 Cactus Ave.
Goddard preschool opens in Chino Hills
The Goddard School, a preschool franchise, is open in Chino Hills, the fifth Goddard School in the region and the eighth in California.
The newly built 10,000-square-foot school officially opened Tuesday, April 27 and is accepting new students.
Nan Song is the franchisee in Chino Hills. In a nod to COVID-19, the school implemented a number of health and safety measures to help keep children, teachers and faculty healthy and safe. The school performs health checks before entry, restricts outside visitors and sanitizes regularly.
The school provides childhood education for children ages six weeks to 6 years.
Address: 16258 Pomona Rincon Road; phone: 909-308-5800; hours: 7 a.m. to 6 p.m.
Mariscos El Puerto Escondido has bought a 4,430-square-foot restaurant at 1970 Ostrems Way in San Bernardino for $1,680,000, according to NAI Capital. Maggie Gonzalez with NAI Capital Commercial’s Ontario office represented the buyer. (Courtesy of NAI Capital)
Seafood restaurant buys its building in SB
Mariscos El Puerto Escondido has bought a 4,430-square-foot restaurant at 1970 Ostrems Way in San Bernardino for $1,680,000, according to NAI Capital.
The remodeled restaurant has a large patio and sports bar.
Maggie Gonzalez with NAI Capital Commercial’s Ontario office represented the buyer.
“In 2019, I represented both the landlord and Mariscos El Puerto Escondido as the tenant at this location,” Gonzalez said. “In November of 2020, we approached the owner about selling the property and they said yes. During a very difficult year for some restaurants, Mariscos El Puerto Escondido thrived during 2020. We opened escrow and closed quickly with an SBA Loan.”
Grocery Outlet leased 18,000 square feet in a 10-year lease at San Gorgonio Village, a shopping center in Beaumont. The store opened in 2020. (Courtesy of SRS Real Estate Partners)
Long leases signed at Beaumont center
San Gorgonio Village, a shopping center in Beaumont, has signed four long-term leases with Grocery Outlet, Planet Fitness, Raising Cane’s and Sherwin Williams.
Other tenants at the center at the southeast corner of 2nd Street and Commerce Way include Cinema West, opening May 21, In-N -Out, Ulta, Five Below, and Jersey Mike’s.
The leases were negotiated by SRS Real Estate Partners of Newport Beach.
SRS breaks down the leases:
Grocery Outlet leased 18,000 square feet in a 10-year lease. The store opened in 2020.
Planet Fitness leased 17,500 square feet in another 10-year lease. It opened last month.
Sherwin Williams leased 4,000 square feet in a freestanding building in a 10-year lease. The store will be opening for business mid-2021.
Raising Cane’s leased 3,567 square feet in a freestanding building in a 15-year lease. The restaurant opened in 2020.The center’s owner and developer, Wood Investments Companies, was represented by Phil Berry and John Romm of Commercial West Brokerage Inc.
Dealership earns Toyota award
John Elway’s Crown Toyota dealership in Ontario has received the President’s Cabinet Award from Toyota Motor Sales. This award is presented to the top Toyota dealerships in the nation and is limited to 12 dealerships nationwide each year.
The dealership has earned the distinction four years in a row.
People on the move
Make-A-Wish Orange County and the Inland Empire has appointed two senior development managers, Kathy Perea and Meghan von Behren. Von Behren joined the nonprofit in November 2020. She previously served at YWCA Minot and will expand her role as she develops fundraising strategies and community support for the organization. Perea previously worked for the Leukemia & Lymphoma Society and the American Heart Association.sr
Goddard preschool opens in Chino Hills
The Goddard School, a preschool franchise, is open in Chino Hills, the fifth Goddard School in the region and the eighth in California.
The newly built 10,000-square-foot school officially opened Tuesday, April 27 and is accepting new students.
Nan Song is the franchisee in Chino Hills. In a nod to COVID-19, the school implemented a number of health and safety measures to help keep children, teachers and faculty healthy and safe. The school performs health checks before entry, restricts outside visitors and sanitizes regularly.
The school provides childhood education for children ages six weeks to 6 years.
Address: 16258 Pomona Rincon Road; phone: 909-308-5800; hours: 7 a.m. to 6 p.m.
Mariscos El Puerto Escondido has bought a 4,430-square-foot restaurant at 1970 Ostrems Way in San Bernardino for $1,680,000, according to NAI Capital. Maggie Gonzalez with NAI Capital Commercial’s Ontario office represented the buyer. (Courtesy of NAI Capital)
Seafood restaurant buys its building in SB
Mariscos El Puerto Escondido has bought a 4,430-square-foot restaurant at 1970 Ostrems Way in San Bernardino for $1,680,000, according to NAI Capital.
The remodeled restaurant has a large patio and sports bar.
Maggie Gonzalez with NAI Capital Commercial’s Ontario office represented the buyer.
“In 2019, I represented both the landlord and Mariscos El Puerto Escondido as the tenant at this location,” Gonzalez said. “In November of 2020, we approached the owner about selling the property and they said yes. During a very difficult year for some restaurants, Mariscos El Puerto Escondido thrived during 2020. We opened escrow and closed quickly with an SBA Loan.”
Grocery Outlet leased 18,000 square feet in a 10-year lease at San Gorgonio Village, a shopping center in Beaumont. The store opened in 2020.
Long leases signed at Beaumont center
San Gorgonio Village, a shopping center in Beaumont, has signed four long-term leases with Grocery Outlet, Planet Fitness, Raising Cane’s and Sherwin Williams.
Other tenants at the center at the southeast corner of 2nd Street and Commerce Way include Cinema West, opening May 21, In-N -Out, Ulta, Five Below, and Jersey Mike’s.
The leases were negotiated by SRS Real Estate Partners of Newport Beach.
SRS breaks down the leases:
Grocery Outlet leased 18,000 square feet in a 10-year lease. The store opened in 2020. Planet Fitness leased 17,500 square feet in another 10-year lease. It opened last month. Sherwin Williams leased 4,000 square feet in a freestanding building in a 10-year lease. The store will be opening for business mid-2021. Raising Cane’s leased 3,567 square feet in a freestanding building in a 15-year lease. The restaurant opened in 2020.
The center’s owner and developer, Wood Investments Companies, was represented by Phil Berry and John Romm of Commercial West Brokerage Inc.
Dealership earns Toyota award
John Elway’s Crown Toyota dealership in Ontario has received the President’s Cabinet Award from Toyota Motor Sales. This award is presented to the top Toyota dealerships in the nation and is limited to 12 dealerships nationwide each year.
The dealership has earned the distinction four years in a row.
People on the move
Make-A-Wish Orange County and the Inland Empire has appointed two senior development managers, Kathy Perea and Meghan von Behren. Von Behren joined the nonprofit in November 2020. She previously served at YWCA Minot and will expand her role as she develops fundraising strategies and community support for the organization. Perea previously worked for the Leukemia & Lymphoma Society and the American Heart Association.