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Business Archives
Walmart buys its Riverside cold-storage facility for $223M
The Real Deal: Walmart bought the building it had rented since 2010 — a bet on cold storage while the rest of the IE industrial market sits at 8.1% vacancy.
A 1,400-acre housing tract hits the market near Lake Mathews
ConnectCRE: Entitled land at this scale rarely trades in SoCal — and this one already carries a tentative tract map, central to Corona, Riverside, and Menifee.
Walmart pays $223M for the Riverside cold-storage building it's leased since 2010
ConnectCRE: About $440 a square foot for the 507,000 sf temperature-controlled plant on Columbia Avenue — a tenant turning owner in a cold-storage market where demand keeps outrunning supply.
Ontario Airport Hotel rebrands as Hyatt Regency, targets December opening
Hyatt Regency: The Ontario Airport Hotel & Conference Center is becoming a Hyatt Regency following a property-wide renovation. The redesign includes 284 guestrooms, a new Mediterranean restaurant called Lozano, 22,000 square feet of meeting space, and a heated pool. Completion is targeted for December 2026.
IE warehouse vacancy hit 7.8% in the first quarter
Moreno Valley's Villa Annette refinances with a $46M bridge loan
ConnectCRE: The loan retires construction debt and returns equity to the borrower on a newly built 220-unit complex — a clean exit from the build phase rather than a sale.
China-based 3PL takes a 500,000 sf Ontario warehouse that sat vacant two years
MacLeod & Co.: The building sat empty nearly two years because most large tenants chase 32-to-40-foot ceilings; this 3PL runs fine at 30-foot clear — and the terms (large free rent, a big TI allowance, a below-market rate) read like a tenant's market.
Moreno Valley's 220-unit Villa Annette draws $46M bridge refi from Dwight
ConnectCRE: Dwight Mortgage Trust supplies a fresh bridge on the newly built lease-up property; proceeds retire construction debt and return equity to repeat sponsor Latco Enterprises.
Walmart, Clarion buy IE big-box warehouses as vacancy hits 8.5%
Cushman & Wakefield IE MarketBeat: Five big-box sales closed in Q1, each over 390,000 sf. Walmart paid $220 psf for a 507,000-sf Riverside box; Clarion bought a million-sf building from LACERA for $140M.
San Bernardino Starbucks sells in $8.14M two-property package
Inland Empire Business Journal: Hanley Investment Group brokered the two-property deal; only the San Bernardino property is in the IE.
Pollo Campero ground lease in Lake Elsinore sells for $2.93M
Inland Empire Business Journal: Hanley Investment Group calls it a near four-year low cap rate benchmark.
Wienerschnitzel building in Ontario sells for $2.8M
Inland Empire Business Daily: Private investor buys the 2,700 sf free-standing building at 4605 Mills Circle.
$3M for a Chino warehouse near the 71 Freeway
Inland Empire Business Daily: InHouse Media Group bought the 9,200 sf building at 14963 Sierra Bonita Lane.
Rivian moves into a 49,000 sf Perris building
Inland Empire Business Journal: The 49,000 sf Dedeaux building goes to Rivian as East IE leasing tops 6M square feet in Q4 2025 — the first time since Q3 2022.
Whole Foods-anchored Marketplace clears Redlands council
Inland Empire Business Journal: 71,400 sf neighborhood retail at Lugonia and Tennessee, with 1,000+ approved homes nearby driving demand.
Ontario hotel raises $103M to become a Hyatt Regency
Inland Empire Business Journal: Pairs $26M in C-PACE bonds with $77M in tax-exempt mortgage revenue bonds — unusual structure at this scale for IE hospitality.