{"id":1004030370,"date":"2011-06-17T11:48:32","date_gmt":"2011-06-17T19:48:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004030370"},"modified":"2022-12-04T20:13:48","modified_gmt":"2022-12-05T04:13:48","slug":"magellan-group-buys-industrial-building-in-inland-empire","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/","title":{"rendered":"Magellan Buys Industrial Building in Inland Empire"},"content":{"rendered":"<p>June 18, 2011<br \/>\nBy Barbra Murray, Contributing Editor<\/p>\n<div id=\"attachment_1004030371\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004030371\" data-attachment-id=\"1004030371\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/bohman-14\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Bohman\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Bohman&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg\" alt=\"\" title=\"Bohman\" width=\"300\" height=\"225\" class=\"size-medium wp-image-1004030371\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004030371\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Bohman<\/p><\/div>\n<p>Investor interest in California\u2019s Inland Empire continues to heat up and The Magellan Group is among the latest to get a piece of the pie. The real estate investment and development firm joined forces with equity partner Penwood Real Estate Investment Management to acquire 1400 Victoria Ave., a vacant 235,000-square-foot industrial asset in San Bernardino, Calif., from CALBLDG for $5.5 million.<\/p>\n<p>Commercial real estate services firm Lee &amp; Associates represented both the seller and the buyer in the lease transaction.<\/p>\n<p>A rail-served facility developed in 1980, 1400 Victoria sits on 10 acres about a 90 minute drive west on the 10 freeway to the Port of Los Angeles and the Port of Long Beach, the two largest ports on the West Coast, according to American Association of Port Authorities statistics. Magellan, which is keen on value-add industrial properties, plans to invest approximately $1 million in upgrades.<\/p>\n<p>With a facelift, a new management team and an increasingly healthy industrial market, 1400 Victoria may not sit empty for much longer. The vacancy rate in the Industrial Empire was 9 percent in the first quarter, marking a year-over-year decline of 290 basis points. The proof is in the pudding. Recently, Hewlett Packard Co. signed a deal to occupy all 1.4 million square feet of Cajon Distribution Center, a two-building complex in San Bernardino, Calif. Additionally, Ingram Micro committed to 562,000 square feet at 3510 E. Francis Ave. in Ontario, and just days ago, confirmation emerged of M&amp;M Mars\u2019 lease of 495,000 square feet in a building at the 2,500-acre Southern California Logistics Centre in Victorville.<\/p>\n<p>But Magellan has more than leasing on its mind. Flipping is coming back in fashion as conditions continue to improve, so the company will also market the building for sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate investment and development firm joined forces with equity partner Penwood Real Estate Investment Management to acquire 1400 Victoria Ave., a vacant industrial asset in San Bernardino, Calif.<\/p>\n","protected":false},"author":936,"featured_media":1004030371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21742,15],"tags":[],"class_list":["post-1004030370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Magellan Buys Industrial Building in Inland Empire - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magellan Buys Industrial Building in Inland Empire\" \/>\n<meta property=\"og:description\" content=\"The real estate investment and development firm joined forces with equity partner Penwood Real Estate Investment Management to acquire 1400 Victoria Ave., a vacant industrial asset in San Bernardino, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-06-17T19:48:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T04:13:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Magellan Buys Industrial Building in Inland Empire\",\"datePublished\":\"2011-06-17T19:48:32+00:00\",\"dateModified\":\"2022-12-05T04:13:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/\"},\"wordCount\":307,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/06\\\/Bohman2.jpg\",\"articleSection\":[\"Featured\",\"Industrial\",\"News\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/\",\"name\":\"Magellan Buys Industrial Building in Inland Empire - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/06\\\/Bohman2.jpg\",\"datePublished\":\"2011-06-17T19:48:32+00:00\",\"dateModified\":\"2022-12-05T04:13:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/06\\\/Bohman2.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/06\\\/Bohman2.jpg\",\"width\":\"500\",\"height\":\"375\",\"caption\":\"Courtesy Flickr Creative Commons user Bohman\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magellan-group-buys-industrial-building-in-inland-empire\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Magellan Buys Industrial Building in Inland Empire\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/allisonlanda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Magellan Buys Industrial Building in Inland Empire - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/","og_locale":"en_US","og_type":"article","og_title":"Magellan Buys Industrial Building in Inland Empire","og_description":"The real estate investment and development firm joined forces with equity partner Penwood Real Estate Investment Management to acquire 1400 Victoria Ave., a vacant industrial asset in San Bernardino, Calif.","og_url":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-06-17T19:48:32+00:00","article_modified_time":"2022-12-05T04:13:48+00:00","og_image":[{"width":500,"height":375,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/"},"author":{"name":"Allison Landa","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"headline":"Magellan Buys Industrial Building in Inland Empire","datePublished":"2011-06-17T19:48:32+00:00","dateModified":"2022-12-05T04:13:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/"},"wordCount":307,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","articleSection":["Featured","Industrial","News","West"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/","url":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/","name":"Magellan Buys Industrial Building in Inland Empire - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","datePublished":"2011-06-17T19:48:32+00:00","dateModified":"2022-12-05T04:13:48+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","width":"500","height":"375","caption":"Courtesy Flickr Creative Commons user Bohman"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/magellan-group-buys-industrial-building-in-inland-empire\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Magellan Buys Industrial Building in Inland Empire"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/06\/Bohman2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004030370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004030370"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004030370\/revisions"}],"predecessor-version":[{"id":1004626557,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004030370\/revisions\/1004626557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004030371"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004030370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004030370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004030370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}