According to MBK Realty, a large apartment complex in Menifee sold for $ 156 million, or $ 472,727 per unit.
Artesa at Menifee Towne Center, which debuted in February 2020, comprises 330 units and was sold to MG Properties Group in San Diego.
MBK Realty said the complex signs an average of 40 leases a month. According to apartments.com, rents range between US $ 2,466 and US $ 3,073.
Artesa has a mix of 37 two- and three-story walk-in buildings with eight open floor plans. The one-, two- and three-room apartments range from 820 to 1,322 square meters.
“The Inland Empire has some of the strongest housing fundamentals in the country and we are excited to add to our extensive portfolio there,” said Mark Gleiberman, CEO and Founder of MG Properties. “We are excited to close another transaction with the MBK team and believe that their well-designed, high-quality product will be well received by residents.”
The Artesa acquisition is MG Properties Group’s eleventh property in the Inland Empire.
Rachel Parsons and Derrek Ostrzyzek from Berkadia brokered the sale on behalf of MBK Rental Living.
Raising Canes property is selling for $ 8.2 million
A 4,086-square-foot lot owned by Raising Cane’s Chicken Fingers in San Bernardino was sold for a record-breaking $ 8.2 million, according to CoStar.
The deal was brokered by SRS Real Estate Partners, who represented the seller-developer, an Orange County subsidiary of Red Mountain Group.
The Raising Cane’s on S. Tippecanoe Ave. from 1857 is located on an area of 1.24 hectares and has a passage. The fast food restaurant has an 11 year lease, SRS said.
The buyer was identified as a “private high net worth investor in San Diego” who paid all cash and was represented by Jim Casale of Lee & Associates.
In September 2020, SRS also brokered the sale of Raising Cane’s property at 40390 Margarita Road in Temecula for $ 6.8 million.
The recruitment event for Indian casinos is on November 11th
The Fantasy Springs Resort Casino in Indio is looking to fill up to 80 positions.
The casino is holding a rental fair on Thursday, November 11th, from 2pm to 6pm in its Special Events Center.
Managers are available for interviews with candidates for positions such as cash operator, cage cashier, main banker, table games dealer and floor supervisor, restaurant server, sous chef, restaurant manager, baker and cook.
Applicants can view all vacancies at fantasyspringsresort.com/employment.
Block scholarships in Murrieta. available
Community Development Block Grants are available to nonprofits in Murrieta.
The city has donated $ 88,500 to nonprofits and is accepting applications.
The money can be used for charitable projects and programs that improve neighborhoods and promote economic development. CDBG funds must be used between July 1, 2022 and June 30, 2023.
For details on the application process and eligible activities, please visit murrietaca.gov/350/Community-Development-Block-Grant or contact Louie Lacasella, Assistant to the City Manager at 951-461-6008 or email llacasella @MurrietaCA. gov
Grocery store needs workers
UNFI, distributor of food products, is holding a job fair at the Riverside Distribution Center on Tuesday, November 9th from 10 a.m. to 2 p.m.
The company is looking to fill 150 vacancies. Entry-level wages start at $ 21 an hour.
UNFI offers the usual perks, but also some unique options, including the ability to allow employees outside of the usual pay schedules to access their salary when needed. Working parents can also use the Bright Horizons childcare provider to help with emergency childcare.
Address: 14900 Meridian Parkway, Riverside
SBUX property sold for $ 4.7 million
Avison Young, who brokered the deal, said a Starbucks property in Ontario was sold for $ 4.7 million.
The buyer of the 2,430 square foot property on N. Euclid Ave. 511 was purchased from Truman Johnson Inc. The unknown seller was represented by JLL.
The Starbucks is brand new and was completed earlier this year.
“Our buyer customer was delighted to acquire this newly built Starbucks property in a premier retail corridor from Inland Empire,” said Chris Maling of Avison Young. “This property offers a 10-year triple net lease with scheduled rent increases and minimal landlord obligations.”
Annual Cancer Walk Raises $ 1.2 Million
Founded by Annie Sellas, Cathy Stockton, and the late Nancy Varner along with Stater Bros. Charities, the annual (and virtual) Believe Walk raised $ 1.2 million to help fight cancer.
Stater Bros. said its employees raised $ 900,000 through a chain-wide in-store campaign and online fundraising.
The proceeds will help fund programs and services for local cancer treatment organizations.
Grant recipients include the Beloved Foundation, Desert Cancer Foundation, Loma Linda University Cancer Center, Michelle’s Place Cancer Resource Center, Redlands Community Hospital, Riverside University Health System Foundation, St. Bernardine Medical Center, The Care Project and The Pink Ribbon Place at Riverside Community Health Foundation.
To date, the Food Foundation and its partners have raised $ 6.1 million for local programs and services that help cancer patients and their families.
Award for New Indy
The paperboard manufacturer New-Indy in Ontario has won a 2021 sustainability award from the American Forest & Paper Association. The company was named “Leadership in Sustainability – Paper Recovery for Recycling”.
According to AFPA, New-Indy upgraded its digestion systems at its facility by adding more screening and “scrapping” capacity. The new equipment meant higher fiber yield and the ability to use mixed paper in all products “without compromising on quality”.
In addition to savings in raw material costs, New-Indy’s waste stream has also been reduced. The new fiber recovery system resulted in 5,500 tons less waste leaving the plant. In addition, 10,000 tons of mixed paper were processed without a discharge from the factory and diverted from the landfill.
The business briefings are compiled and edited by business editor Samantha Gowen. Submit articles to [email protected] High-resolution images can also be submitted. Allow at least a week for publication. Items are edited for length and clarity.