Grubb & Ellis Marketing New 398,000 SF Speculative Development in Chino, CA by The Carson Companies

  

ONTARIO, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that The Carson Companies retained Mark Kegans (top right photo), SIOR, and Ron Washle (middle left photo), SIOR, senior vice presidents, Industrial Group, and members of the company’s Global Logistics practice group, as the leasing agents of 16043 El Prado Road, an approximately 398,000-square-foot speculative industrial development within the Chino South Business Park in Chino.

 The cross dock loading facility is planned for LEED® certification with the U.S. Green Building Council and will include a minimum of a 32-foot clear height, 75 dock-high doors and two ground-level doors.

 The property spans 18.7 acres of land within the 142-acre Chino South Business Park and currently offers 100 trailer parking positions with the ability to expand to accommodate an additional 90 trailers.  The project broke ground in early September and is scheduled for completion first quarter 2012. 

 “This is one of the first speculative industrial developments in the western Inland Empire for quite some time,” said Kegans.  “It offers users an opportunity to locate to a new facility located within a well-developed business park.”

 For leasing information, call 909.605.1100, or contact Kegans at mark.kegans@grubb-ellis.com, or Washle at ron.washle@grubb-ellis.com. 

 Media Contact: Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubbellis.com                                                                                                              

IPA Sells 100-Unit Canyon Heights Apartments in Oceanside, CA

 OCEANSIDE, CA– Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has negotiated the sale of Canyon Heights Apartments (top left photo), an 81,400-square foot multifamily community in Oceanside. The terms of the sale were not disclosed.

IPA’s Stewart Weston (middle right photo), a senior vice presidents investments in Long Beach and Chris Zorbas, a vice president investments in San Diego office of Marcus & Millichap, represented the seller. The buyer, San Francisco-based Fowler Property Acquisitions, was also represented by Weston and Zorbas. IPA is a division of Marcus & Millichap Real Estate Investment Services.

“There is tremendous demand for larger multifamily assets in San Diego County, and these opportunities are rare in this supply constrained market” says Weston. “Canyon Heights Apartments is just minutes from the beach, providing an affordable living option for this coastal community.”

“The low cost of capital has brought a number of out-of-area buyers to the market,” adds Zorbas. “The rental market has tightened recently, and as a result, concessions are leaving the market.”

Located at 180 Canyon Drive, just off Mission Avenue, the property is easily accessible from Interstate 5 and California state routes 76 and 78.

 Canyon Heights Apartments has a unit mix of 20 one-bedroom units and 80 two-bedroom apartments. The property features a resort-style swimming pool, a playground, controlled access and on-site laundry facilities.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716 www.InstitutionalPropertyAdvisors.com