Newmark Group, Inc. arranged the sale of the Lakeview office campus, a two‑building Class A complex covering 106,345 sq ft, to MGR Real Estate for $24.675 million. The campus sits on 1.85 acres of excess land that can be developed immediately, and the transaction was led by Newmark Vice Chairman Paul Jones, Senior Managing Director Brandon White, and Co‑Head of U.S. Capital Markets Kevin Shannon, representing seller BH Properties. MGR’s self‑represented team, headed by CEO Michael G. Rademaker and VP Tony Hermosillo, highlighted the property’s strong fundamentals and strategic fit with its existing portfolio.
The sale adds a high‑quality, Class A asset to MGR’s holdings and aligns with its portfolio‑growth strategy in the Inland Empire West submarket of Ontario, California. The off‑market nature of the deal allowed both parties to negotiate a tailored transaction, and the property’s proximity to many of MGR’s current assets enhances its strategic value.
Newmark’s involvement underscores its active role in Southern California real‑estate deals. The firm generated more than $3.4 billion in revenue for the twelve months ended March 31, 2026, and has previously facilitated other significant transactions, such as the $89 million sale of Orange City Square to MGR in January 2026.
Market data from a Cushman & Wakefield report for Q1 2025 shows the Inland Empire West submarket had a vacancy rate of 10.4% and an average asking rent of $2.27 psf, indicating a resilient office market. The 1.85 acres of excess land can be developed immediately, offering future expansion potential for MGR.
"We are pleased to have facilitated this off‑market transaction of a premier Class A campus with meaningful optionality," said Paul Jones, Newmark Vice Chairman. "We are excited to add Lakeview to our growing portfolio of high‑quality assets in the Inland Empire. The property's strong fundamentals, combined with its prime location, strategically located nearby many of MGR's current assets, align well with our long‑term investment strategy," added Michael G. Rademaker, CEO of MGR Real Estate.
The transaction demonstrates Newmark’s continued activity in facilitating significant commercial real‑estate deals and highlights MGR’s strategic expansion in a market that offers lower operating costs and a growing population. The sale adds a valuable asset to MGR’s portfolio and reflects the ongoing demand for Class A office space in the Inland Empire.
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