August 10, 2016
Upland, CA-based MGR Real Estate acquired Via Verde Corporate Plaza, an institutional-quality, multi-building office campus in San Dimas, CA for $19 million. The asset was built in 2000, and encompasses more than 92,000 square feet of space.
The 140 Via Verde building is roughly 94% leased, while the 160 Via Verde building is 100% leased to a roster of high-quality credit tenants. The property sits on a nearly seven-acre site and features a distinctive architectural design. The two new acquisitions increase MGR’s Inland Empire office building holdings to more than one million square feet.
Newmark Grubb Knight Frank’s Kevin Shannon, Paul Jones and Blake Bokosky represented the seller, an institutional real estate fund managed by New York Life Real Estate. MGR Real Estate’s Michael G. Rademaker and Lynn Yangchana represented the buyer.
For comments, questions or concerns, please contact Dennis Kaiser