Le Investment Group closed the sale of The Mango Tree Apartments, a 56-unit multifamily property located at 8021 Mango Ave., Fontana. The property was sold for $10,850,000, equating to $193,750 per unit.

The all-cash sale closed within 14 days at a 4.50% cap rate, with a GRM of 13.09 and a Pro Forma CAP rate of 6.86%. The property was a value-add play, with low existing rents and renovations required, presenting significant potential for increased revenue and asset appreciation. Le Investment Group represented both the seller and the buyer.

“We are proud to have successfully facilitated this transaction with such efficiency,” said Albert Le, managing partner at Le Investment Group. “This sale helps demonstrate the momentum of the current commercial real estate landscape. Investors are eager to re-enter the market after a period of hesitation, and this transaction highlights the demand for well-located, income-generating properties.”

MCB Real Estate, based in Baltimore with nationwide holdings, completed the $64.7-million purchase of the Falcon Ridge Town Center in Fontana. The acquisition was made through a joint venture with a fund managed by DRA Advisors.

The acquisition marks the JV’s first transaction. Located at 15218-15320 Summit Ave., the fully leased 273,424-square-foot center is anchored by one of the most visited locations of regional grocery chain Stater Bros. Markets, and shadow anchored by Target.

“The area in and around Fontana is rapidly growing with more affluent residents moving in every year, and Falcon Ridge sits right in the middle of that growth, offering an all-encompassing shopping experience that’s unmatched in the region,” said MCB managing partner and co-founder P. David Bramble. “In turn, retailers are not only eager to be there, but they want to stay. Falcon Ridge is going to be successful for many years to come.”   

Colliers completed the $76.8-million sale of a newly constructed Inland Empire West Industrial asset, Almeria Logistics Center. Cabot Properties acquired the 236,129-square-foot property located at 8300 Almeria Ave. in Fontana from seller and developer Transwestern Development Company. It’s fully leased through 2027 to LC Logistics Services.

Colliers’ West Industrial Capital Markets Team, comprised of vice chair Michael Kendall, SVP Gian Bruno, VP Kenny Patricia and associate Kylie Jones, in partnership with vice chairs Thomas Taylor and Steve Bellitti and EVPs Joey Jones and Scott Sanders, marketed the property and led the disposition and acquisition process.

“Even through current market turbulence, Almeria Logistics Center generated a high volume of demand from institutional capital, which is a testament to the strong conviction of Cabot and many of their peers in Southern California’s industrial market over the long term,” said Kendall. “Due to the quality product, location, and tenancy, interest was high, and we’re thrilled with the outcome.”