Two Moreno Valley apartments have been sold to a San Diego investment company for $ 107.2 million.
Tower 16 Capital Partners has purchased 384 units of Siena Pointe Complex and 120 units of Heacock Park Apartments.
The seller was unknown.
The transaction represents Tower 16 Capital Partners’ fifth and sixth acquisition of Inland Empire.
“Both of these properties are basically untouched and offer great opportunities for change,” said Mike Farley, co-founder of Tower 16. “Even after the refurbishment, both properties are still considered affordable to the residents of Moreno Valley.”
13933 Chagall Court’s Sienna Pointe Apartments features a clubhouse, a playground and three swimming pools. Located on 13325 Heacock Street, Heacock Park Apartments covers parking, a playground, laundry facilities, and a pool with a spa.
Tower 16 said it will spend about $ 10 million on upgrading and refurbishing both properties. Improvements include modernization of apartments, clubhouses and gyms. The pool will also be refurbished.
New outdoor amenities include barbecue, seating and an outdoor gaming area.
Yoga studio opens in Chino Hills
Yoga Six opened in Chino Hills Shops in late July.
The studio is owned and operated by Michele and Neil Gratton, who also have YogaSix studios in Ontario.
The studio offers a variety of yoga classes for all fitness levels. Yoga Six Chino Hills offers day, morning, afternoon and evening classes.
Grattons are also looking for new yoga instructors to join their team. Contact them or send a demo tape to email@example.com.
For more information, please visit www.yogasix.com / location / chino-hills or call 909-789-1111.
Address: 13925 City Center Drive, Suite 2013
Office complex sells for $ 11.4 million
The Donin Investment Group has sold a 46,089-square-foot, three-story office building on Riverside’s 3550 Vine St. for $ 11.4 million.
The transaction was mediated by CBRE.
DIG recently completed refurbishment of the lobby, common areas and landscaping while building two speculative office suites.
The Vine Street Building, which was sold to an unidentified investor, was the fourth property in the five-property portfolio sold by DIG on the riverside. The company bought the property for $ 44.25 million in October 2018 and said it had sales of $ 46.4 million so far.
Medical building sells for $ 4.3 million
The Palm Desert Clinic Building was sold to an unidentified purchaser for $ 4.3 million, according to a CBRE representative.
The 9,257-square-foot building in two compartments of 72415 Parkview Drive houses a dental facility that includes two orthodontists, a periodontologist, and an endodontic physician.
CBRE’s Clay Carlson and Kevin Singh represented unidentified buyers. Wilson Mead’s Noel Ramos represented the seller.
Harbor Freight opens in Rialto
Harbor Freight Tools, a DIY handyman and women’s discount shop, will open in Rialto on Saturday, August 14th.
The 260 E Baseline Road store is the 122nd Harbor Freight Tools store in California. The company hired about 25-30 people to support the store.
Weekly business hours are Monday to Saturday from 8 am to 8 pm and Sunday from 9 am to 6 pm.
The store manager is Isabel Burdine
“At Harbor Freight, we recognize that more than ever, our customers rely on us for the tools they need to get the job done at an affordable price,” she said.
The store sells all kinds of tools and equipment, including automobiles, air and power tools, storage, outdoor power equipment, generators, welding supplies, shop equipment, hand tools and more.
As a safety protocol during the COVID-19 pandemic, all Harbor Freight stores perform more frequent cleanings and follow the guidelines of the US Centers for Disease Control and Prevention. People with COVID-19 symptoms will be asked to shop at our website at www.harborfreight.com instead of at the store.
Announcement of recipients of grants
Six Inland Empire companies receive SME grants from Founders First CDC.
The Job Creators Quest Grant supports undervalued entrepreneurs in Southern California. A total of 10 local businesses received a portion of the $ 30,000 grant and a full scholarship to one of the Founders First CDC’s accelerator programs. In addition to the inland winner, there were two recipients in Orange County and one in Los Angeles. The highest grant of $ 10,000 was sent to Westcliffe Property in Santa Anna.
The program was funded in part by a $ 1 million grant from The Rockefeller Foundation, in addition to Founders First Capital Partners’ recent $ 9 million Series A funding.
The inland winners are:
- $ 2,500: Team B Solution, Bethany Smith-Desert Hot Spring
- $ 2,500: Boost Training System, Raybus-Corona
- $ 1,000: Skin Theory, Shauna Michels – Corona
- $ 1,000: Freedom in Motion, Jimmy Davidson – Loma Linda
- $ 1,000: Carrillo Concrete Service, Jose Carrillo – San Bernardino
- $ 1,000: Roark Financial, Eric Roark – Ontario
Moreno Valley’s Mehdi Bettahar, 52, has been appointed Deputy Director of Site Mitigation for the Hazardous Substances Control Department, has been Director of the Exide Home Purification Branch since 2019, and has been a Hazardous Substances Engineer and Project Manager from 2018 to 2019. .. .. This position does not require Senate confirmation and the reward is $ 174,048. Bettahar is registered without party preferences.
California tax credit application open
State GO-Biz (Governor’s Business and Economic Development Office) Is accepting applications for a $ 150 million tax credit.
Companies expanding and adding full-time jobs in California are eligible for the California Competitive Tax Credit.
For more information: calcompetes.ca.gov..
The application deadline is 11:59 pm on Monday, August 16th.
For more information on CCTC, the state will host a free application webinar on August 5th and 10th.
The Business Brief is edited and edited by Business Editor Samantha Gowen.Send item firstname.lastname@example.org.. You can also submit high resolution images. It will take at least a week to publish. Items are edited for length and clarity.
2 apartment complexes in Moreno Valley sell for $107 million; yoga studio opens in Chino Hills – Press Enterprise Source link 2 apartment complexes in Moreno Valley sell for $107 million; yoga studio opens in Chino Hills – Press Enterprise