PEOPLE ON THE MOVE
Michael G. Rademaker
MGR CEO Recognized with Prestigious Award
Michael G. Rademaker, MGR’s Founder & CEO, has recently received CoStar’s 2019 Power Broker Award. As one of the leaders in acquiring and professionally managing commercial real estate in the Inland Empire, Rademaker has been named as a CoStar Power Broker for his transaction volume in 2019 against all other active brokers in their market.
The CoStar Power Broker Award is awarded by the CoStar Group Inc., as the leading provider for commercial real estate information, analytics, and online marketplaces. The prestigious award is now in its 20th year and recently expanded to 26 new markets. The Power Broker Awards honors those who have closed the highest transaction volume in commercial real estate in their perspective markets.
Please help us in congratulating Michael Rademaker on their 2019 Power Broker Award in the Inland Empire market.
Michael G. Rademaker is the CEO/Founder of MGR Real Estate, MGR Services, and MGR Property Management. He has over 35 years of real estate sales, leasing and property management experience. MGR currently has 3 regional locations strategically located in Upland, Colton, and Victorville to service Los Angeles, Orange, Riverside, and San Bernardino Counties.
Michael leads the commercial team of sales, leasing and management professionals at MGR. His knowledge and expertise in real estate investments allow him to successfully guide a team of nearly 400 seasoned sales professionals and provides representation to a vast clientele of commercial and residential real estate investors. He has a thorough and complete knowledge of all aspects of residential and commercial real estate investments’ including multi-family, office, retail, industrial, land, apartments, hotels and restaurants, business opportunities, and other commercial properties.
Mr. Rademaker is recognized for his exceptional success in growing clients’ real estate investment portfolios and possesses the ability to provide clients with an unparalleled perspective on the local investment real estate market. Michael has an outstanding ability to thoroughly analyze commercial properties to create a successful positioning strategy that will maximize the client’s opportunities. His approach is simple; treat client investments like it’s our own – an approach that continually results in increased value to MGR clients investment portfolios.
Under his leadership, MGR Real Estate and MGR Property Management have emerged as one of the leading residential and commercial real estate sales, leasing, and management companies in Southern California.
CEO/Founder of MGR Services — Est. 1983 Corporate Office – Upland, CA
CEO/Founder of MGR Real Estate — Est. 2008 Corporate Office – Upland, CA
CEO/Founder of MGR Property Management — Est. 2008 Corporate Office – Upland, CA
- Owns three firms, each structured to meet the real estate needs of clients’ objectives.
- Oversees operations of three office locations: Upland, Victorville, and Colton. Each office is strategically located to service a specific region. Upland is centrally located to service the entire Inland Empire and touches the borders of the Los Angeles and Orange counties. Victorville services the entire High Desert, and Colton effectively services Riverside County.
- Both MGR Services and MGR Real Estate have a large staff of seasoned and highly skilled professionals acquired from national offices. There are currently over 350 salespersons and broker associates combined.
- REO expert – Currently handling hundreds of residential REOs with quick sales at top prices.
- Expert in brokering sales for local and international investors.
- Maintains solid relationships with real estate support services, and specialists in the fields of finance, construction, law, accounting, marketing, escrow, and title.
- MGR Property Management manages everything from residential rentals to large income properties including office buildings, retail centers, and apartment complexes. Experts in all facets of property management: leasing, maintenance, tenants, rent collection, legal, accounting, etc. Staff is comprised of highly skilled managers specifically trained to maximize clients’ investments through hands-on approach and efficiency.
- Has been performing construction management of residential and commercial properties since 1983.
- Over 35 years of servicing real estate sales and leasing and property management, with areas of expertise in investment properties such as office buildings, retail centers, industrial buildings, apartment properties, single-tenant net-lease properties, hotels/motels, multi-family and residential properties, manufactured home communities, senior housing facilities, and land.
- Spearheaded the companies’ combined growth to over 400 sales professionals that provide representation to a vast clientele of residential and commercial investors.
- Ability to provide clients with an unparalleled perspective on the local investment real estate market.
- Recognized for his exceptional success in growing clients’ real estate investment portfolios.
- Outstanding ability to thoroughly analyze commercial properties to create a successful positioning strategy that will maximize the client’s opportunities.
- Established solid relationships with numerous large national banks to successfully liquidate REO inventories.
- Consistently named one of the Inland Empire’s top brokerages by CoStar Group, a recognized leader in commercial information.
Professional Areas of Expertise
- Value Analysis & Evaluations Value Enhancement
- Property & Asset Management
- Leasing, Sales & Exchanges
- Expert and Professional Negotiation
- Value Enhancement
- Marketing & Promotion
- NAR – National Association of Realtors
- CREOBA – Commercial REO Brokers Association
- AIR – American Industrial Real Estate Association
- CAR – California Associations of Realtors
Avison Young brokers sale of a newly developed 205,589-sf industrial building in Perris, CA
Avison Young announced today the sale of a 205,589 square-foot industrial building located at 100 Walnut Avenue in Perris, CA.
Avison Young Principals Cody Lerner and Stan Nowak represented the seller/developer, Los Angeles-based developer and investor Dedeaux Properties LLC. The buyer, a private investor from Southern California, was represented by Carol Taubman of Westgate Industrial Properties.
“When Dedeaux Properties acquired the land a few years ago, the Inland Empire East submarket wasn’t as strong as it is today. It has since become an increasingly desirable area as land becomes less available,” said Lerner.
Lerner added, “We are pleased that Dedeaux entrusted us to execute its exit strategy, which has successfully enabled the company to reach its financial and operational goals for this facility.”
Nowak added, “The Inland Empire continues to be one of the hottest industrial markets in the nation, where user demand is outpacing construction deliveries despite a robust development pipeline. We believe this trend will continue for the foreseeable future and will bolster development and capital investment despite macro-economic headwinds.”
The recently construction facility is situated on 9.56 acres, and includes a 36-foot clear height, 27 dock doors and 1,200 amps of power.
Newmark Represents DCG Fulfillment in 190,000- Square-Foot Warehouse Lease in California’s Inland Empire
Transaction Marks DCG’s 10th Building in California, Bringing Total Footprint to 3.4 Million Square Feet
Commercial Real Estate Transaction Alert
Newmark announces DCG Fulfillment has signed a 189,280-square-foot industrial lease at 13481 Valley Boulevard in Fontana, California. Newmark Executive Managing Directors Mark Kegans, SIOR and Ron Washle, SIOR represented DCG Fulfillment, a family-owned third-party logistics provider based in California’s Inland Empire.
“We are happy to have completed another successful transaction for DCG Fulfillment,” said Kegans. “With vacancy in the Inland Empire below 1%, options for tenants are few, and we were pleased to secure this prime distribution location for the company.”
DCG’s new space is part of a larger 600,080-square-foot industrial warehouse property located in the Inland Empire West. The property features cross-dock loading, approximately 5,000 square feet of office space, 35 dock-high doors, one grade-level door, 32-foot clear height, K-17 sprinklers, 800-amp power and parking for 116 automobiles and 150 truck trailers.
The property is situated just off Interstate 10 in Fontana, approximately 45 miles east of Los Angeles. The location provides access to major logistics and transportation locations along the West Coast, including Los Angeles International Airport and the Ports of Los Angeles and Long Beach.
According to Newmark Research, industrial vacancy in the Inland Empire remains the lowest in the U.S. at just 0.8% as of the second quarter of 2022. Occupancies of new construction deliveries propelled quarterly net absorption of 3.9 million square feet. There is currently 39.9 million square feet of industrial space under construction in the market, a record high. As the California Federal Reserve continues to increase interest rates to battle inflation, a gradual cooling of the unprecedented industrial market fundamentals across the U.S. is likely. However, as the nation’s top industrial market, vacancy will likely be better insulated in the Inland Empire if a recession occurs.
SRS’ Investment Properties Group Brokers $35 Million Sale of Major Portion of One Eleven La Quinta Center, a 154,383-SF Retail Community Center in La Quinta, CA
SRS Real Estate Partners’ Investment Properties Group (IPG) announced it has completed the $35 million sale of a 154,383-square-foot portion of One Eleven La Quinta Center, a retail community center located at 78959 CA-111 in La Quinta, CA.
SRS Senior Vice Presidents Chris Tramontano and John Redfield represented the seller, a Coachella Valley-based private family office. The buyer, Anaheim, CA-based Milan Capital Management, represented themselves. Terrison Quinn and Casey Mahony of SRS Real Estate Partners have and remain exclusive leasing agents for the asset which was 79% occupied at the close of escrow.
Tenants in the center that were part of the property sale include Ross Stores, Staples, Petco, Big 5 Sporting Goods, among others. The center is shadow anchored by tenants that include Stater Bros, Hobby Lobby, and Kohl’s.
Built in phases between 1992 and 2002, this is the first sale of the center since development over 30 years ago. One Eleven La Quinta Center totals 852,465 square feet and is situated on 19.57 acres of land. An irreplaceable highly-successful center, One Eleven La Quinta Shopping Center is located at one of the best intersections in all of the Coachella Valley, Washington & 111 visible to over 70,000 cars per day.
“The sale of One Eleven La Quinta Center was a very detailed complex transaction with several obstacles to overcome, including multiple loans on different portions of the property, a rising interest rate environment and a new Panera Bread pad development still in the contingency period that was critical to the proforma NOI that was underwritten. I’m proud of our investment sales and leasing teams for coming together and providing excellent execution for both the seller and buyer,” said Tramontano.
“After 30 years of successful operation of One Eleven La Quinta, the seller was ready to pass the baton to a great southern California operator. This transaction had its challenges and many moving pieces, fortunately all outside of the high-quality real estate that was purchased. Chris Nichelson and the Milan Capital Management team demonstrated at great lengths their expertise in completing this transaction. This was a team effort and I’m excited to see the value Milan and the SRS leasing teams add to take the center to new heights,” said Redfield.
“We have been working with the seller and the SRS team for many years to acquire this well-located asset,” said Chris Nichelson, President of Milan Capital Management. “Their professionalism and diligence helped us overcome numerous challenges to get this deal done in an increasingly difficult environment. We are excited to have the opportunity to continue the original developer’s legacy, and to take this property to the next level.”
“One Eleven La Quinta Center is one of the preeminent retail centers for the Coachella Valley since its inception. It was important for the seller that the project’s legacy of success endures. Milan Capital Management’s level of sophistication and vision for the center made it clear they were the perfect buyer. The collaboration with the SRS capital markets team was critical to completing what was a very complicated transaction to the benefit of both parties. Under the stewardship of Chris Nichelson and Milan Capital Management’s team, we already have several new tenants in negotiation and the new Panera drive-thru is scheduled to open this fall,” shared Mahony.
Located along Highway 111, the region’s major retail corridor, the property is within a dense, affluent trade area with a population of 160,000 and more than 58,000 employees within a five-mile radius.
In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently have more than $2 billion in property on the market, with nearly 200 properties sold year-to-date in 2022.
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