Real estate firm MGR Realty nabbed Empire Towers V, a 124,529-square-foot Class A Ontario office space for a total of roughly $30 million. The real estate advisor NKF Capital Markets represented the seller, TA associates, a private equity firm, which had completed the building project at 3990 Concours Street in 2007.
The 5-story steel-frame construction has a modern glass and masonry exterior and a prime location in Ontario. Senior Manager Director of NKF Markets, Michael Moore, highlights the building’s key position in the Inland Empire office market: “The Empire Towers campus is an institutional quality asset that is within the Inland Empire West market – one that has seen a major influx of capital investment and tenant expansion over the past several years. The asset will benefit from its scale, nearby amenities, and freeway adjacent location as the region sees continued growth”.
Spread across 4.4 acres, Empire Towers V is within walking distance of numerous facilities, including restaurants and hotels. The property is also conveniently located near the Ontario Mills Mall, Citizens Business Bank Arena and the Ontario Convention Center.
Coupled with immediate access off the I-10 Freeway at both Haven Avenue on/off ramps and Milliken Avenue on/off ramps and central Ontario location, 3990 Concours Street is a top-of-the-list pick for companies looking for office space in the Inland Empire market.