According to MBK Realty, a large apartment complex in Menife has been sold for $156 million, or $472,727 per unit.
Artesa, which debuted in February 2020, has 330 units in Manifi Town Center and was sold to MG Properties Group in San Diego.
MBK Realty said an average of 40 leases are signed every month in the complex. According to Apartments.com, rents range from $2,466 to $3,073.
Artesa consists of a mix of 37 two- and three-story walk-up buildings with eight open-concept floor plans. One-, two- and three-bedroom accommodations range from 820 to 1,322 square feet.
“Inland Empire has some of the strongest apartment fundamentals in the country, and we are thrilled to add to our substantial portfolio there,” said Mark Gleberman, CEO and Founder, MG Properties. “We are pleased to complete another transaction with the MBK team, and believe that their well-designed, high-quality products will be well received by residents.”
The Artesa acquisition is MG Properties Group’s 11th asset in the Inland Empire.
Rachel Parsons and Derek Ostrzyzek of Bercadia brokered the sale on behalf of MBK Rental Living.
Increase Ken’s net worth to $8.2M . sells in
According to data from CoStar, Raging Kane’s Chicken Fingers property of 4,086 square feet in San Bernardino has sold for a record-breaking $8.2 million.
The deal was signed by SRS Real Estate Partners, representing an associate seller-developer of Red Mountain Group in Orange County.
1857 s. Rising Cane at Tippecanoe Avenue is located on 1.24 acres and has a drive-thru. SRS said the fast-food restaurant has 11 years left on its lease.
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 a $6.8 million sale of a Rising Cane property at 40390 Margarita Road in Temecula.
Indio Casino Hiring Event is November 11th
Fantasy Springs Resort Casino in Indio is seeking to fill 80 positions.
The casino will host a Recruitment Fair at its Special Events Center on Thursday, November 11th from 2-6 PM.
Managers will be available to interview candidates for the posts including Cash Operator, Cage Cashier, Chief Banker, Table Game Dealer and Floor Supervisor, Restaurant Server, Sauce Chef, Restaurant Manager, Baker and Cook.
Applicants can check all job opportunities at Fantasyspringsresort.com/Employment.
Block Grant Available in Murrieta
Community Development Block grants are available to nonprofits in Murrieta.
The city has made $88,500 available to nonprofits and is accepting applications.
The money can go toward nonprofit projects and programs that improve neighborhoods and promote economic development. The CDBG fund should be used between 1 July 2022 to 30 June 2023.
For details about the application process and what activities are considered eligible, visit murrietaca.gov/350/Community-Development-Block-Grant or contact Louis LaCasella, assistant to the city manager, at 951-461-6008 or email Via llacasella at @MurrietaCA.gov
Grocery Hub needs workers
UNFI, a distributor of grocery products, will be hosting a job fair at the Riverside Distribution Center on Tuesday, November 9 from 10 a.m. to 2 p.m.
The company is looking to fill 150 open positions. Starting salary starts at $21 per hour.
UNFI offers general benefits, but also some unique opportunities for employees, including the option to use their pay when they need it, outside of the specific pay program. Working parents can also use childcare provider Bright Horizons to help with emergency backup childcare.
Address: 14900 Meridian Parkway, Riverside
SBUX property $4.7m . sells in
A Starbucks property in Ontario has been sold for $4.7 million, according to Avison Young, who brokered the deal.
The buyer of a 2,430 square foot property at 511 N Euclid Avenue was purchased by Truman Johnson Inc. The unidentified vendor was represented by JLL.
Starbucks is brand new and was completed earlier this year.
“Our buyer clients were delighted to acquire this newly constructed Starbucks property within a major Inland Empire retail corridor,” said Chris Maling with Avison Young. “This property offers a 10-year triple net lease with scheduled rental increases and minimal landlord responsibilities.”
Annual Cancer Walk $1.2M . enhances
The annual (and virtual) Believe Walk, co-founded by Annie Selas, Kathy Stockton and the late Nancy Warner with a Stater Brothers charity, raised $1.2 million to support the fight against cancer.
Stater Brothers said its employees raised $900,000 through a chainwide in-store campaign and online fundraising.
Proceeds will help fund programs and services from local organizations to help with cancer care.
Grant recipients include the Beaved Foundation, Desert Cancer Foundation, Loma Linda University Cancer Center, Michels Place Cancer Resource Center, Redlands Community Hospital, Riverside University Health System Foundation, St. Bernardin Medical Center, The Care Project and The Pink Ribbon Place Riverside. Huh. Community Health Foundation.
To date, the Grocery Foundation and its partners have raised $6.1 million for local programs and services working to help cancer patients and their families.
Award for New-Indie
Box-maker New-Indie in Ontario has won a 2021 Sustainability Award from the American Forest and Paper Association. The company was awarded the Leadership in Sustainability – Paper Recovery for Recycling.
According to AFPA, New-Indy improved its repulling system at its mill by adding more screening and “de-trashing” capability. The new equipment meant a higher fiber yield and the ability to consume mixed paper in all products “without sacrificing quality”.
In addition to the cost savings of raw materials, New-Indy’s waste stream was also reduced. The new fiber recovery system resulted in 5,500 tonnes less waste from the mill. In addition, 10,000 tonnes of mixed paper with no outlets was processed by the mill and removed from the landfill.
Business Brief is compiled and edited by Business Editor Samantha Gowen. Submit items to [email protected] High-resolution images can also be submitted. Allow at least one week for publication. Items are edited for length and clarity.