February 24, 2017 Comments Off on 400K-SF Campus Sells for $79M Views: 622 California News, Inland Empire

400K-SF Campus Sells for $79M

Upland, CA-based MGR Services acquired Empire Towers I-IV, a 400,976-square-foot office campus in Ontario, CA, from a joint venture between CIP Real Estate and Guggenheim Partners for $78.5 million. Located at 3633 and 4141 Inland Empire Blvd., and 3800 and 4200 Concours, the Class A property includes four buildings situated on 19.4 acres.

NGKF Capital Markets’ Kevin Shannon, Ken White, Michael Moore, and Brunson Howard represented the seller. The buyer was self-represented. NGKF’s David Milestone and Brett Green secured the financing on behalf of the buyer.

Shannon said, “Empire Towers I-IV is an institutional quality asset that has been well-managed and maintained by the seller.”

The property is 88% leased to a multi-tenant rent roll, including Liberty Mutual, Wells Fargo, City National Bank, Merrill Lynch, and Allstate.

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