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McClatchy-Tribune  06/10/2014 12:53 PM ET
Retailers to lay out midyear strategies, plans for Inland Empire at luncheon [The Press-Enterprise, Riverside, Calif. :: ]

June 10--The Association of Corporate Real Estate Executives will gather to learn about what some of Southern California's leading retailers have in store for the Inland area during the coming months.

The luncheon event will be at 11:30 a.m today at the Ontario Convention Center.

Presentations are expected from executives from 7-Eleven, Farmer Boys, Fantastic Sam's, McDonald's, Smart & Final, UPS Stores, Panda Express, Cricket Wireless and others. Those in attendance could have a chance to learn which sides of the retail world are eyeing expansion in the Inland region and where.

Brad Umansky, president of Progressive Real Estate Partners, will moderate the event.

NAIOP TO HOST BEACON ECONOMICS FOUNDER

NAIOP-IE, the Inland Southern California chapter of the largest commercial real estate industry trade group, will gather for a midyear market review on June 19, a statement from the organization said.

The meeting will run from 2 to 7 p.m. at the Ontario Convention Center. Registration can be done via naiopie.org or by calling 951-324-0350.

The guest speaker will be Christopher Thornberg, founding economist of Los Angeles-based Beacon Economics. His organization has recently co-authored a study on the economic impact of the logistics industry on the economy of Riverside and San Bernardino counties.

AUTO BODY SHOP LEASED IN TEMECULA

Jamar and Faviola Robinson will operate a business called Paint Pros in Temecula. They have signed a lease for 4,370 square feet of industrial space for seven years within the Rio Nedo Building from owner Bouris Investments.

The space is located at 42327 Rio Nedo, Suite C. Mark Esbensen of WestMar Commercial Real Estate, a Temecula-based brokerage, represented both parties in the transaction.

CENTER SELLS FOR ALMOST $16 MILLION

Retail centers continue to draw interest from investors in the Inland area. The latest transaction that has been announced is the sale of Montclair Town Center, which was sold to an Encino-based investor for just under $16 million.

The property is anchored by a 24 Hour Fitness Center and a Dollar General store. It is almost 97,000 square feet and about 80 percent occupied.

The buyer, who secured a 1031 exchange, was Montclair-ET. The seller was a regional group based in Rancho Cucamonga.

___

Contact the writer: 951-368-9553 or at jkatzanek@pe.com

 

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