Walmart expects its Eastvale supercenter to open early next year.
The 70,995-square-feet store, which includes a vast grocery section and much larger retail departments, is being built at 14100 Limonite Ave. The center will feature a 16-pump fuel station and EV-charging, too.
In a statement released last week, the retailer said it’s also remodeling 11 stores in Southern California, including five in the Inland Empire. Those stores include locations in Upland (two), Moreno Valley, Jurupa Valley and Barstow.
Store remodels will include improved display and signage, expanded departments, more online pickup and delivery, and private screening and checkout rooms in an expanded pharmacy.
Walmart employs 104,500 at its 303 stores and 21 distribution hubs in California.
New Jersey firm expands SoCal portfolio
Faropoint, a New Jersey-based investment firm that specializes in industrial buildings, acquired a four-building portfolio in Ontario.
The combined price, which Faropoint declined to confirm, was reported as $63.6 million by several commercial real estate websites.
The 243,000-square-foot campus includes four Class A industrial buildings completed in 2006 by Panattoni Development.
The buildings are nearly fully leased to 29 tenants. CommercialSearch.com listed the addresses as 12580 Philadelphia (32,147 square feet), 2260 Archibald (38,441 square feet), 1930 Rochester (144,591 square feet) and 1920 Rochester (28,215 square feet).
Faropoint, which bought a 36,491-square-foot industrial facility in late March for $9.975 million in Torrance, invests in last-mile industrial properties. Its home base is in Hoboken.
Industrial leases for Inland
We’ve seen an uptick in leasing activity for the region’s industrial properties.
Let’s take a look at three that hit the inbox this week:
Santa Fe Springs
Lionext Inc. recently leased a 106,110-square-foot distribution facility in Santa Fe Springs from landlord Kekropia Inc.
The 10-year lease is valued at least $22 million, NAI Capital Commercial said.
NAI Capital Commercial represented the tenant while the property owner was represented by Lee & Associates.
Lionext is a warehouse and trucking company based at Leffingwell Road in Santa Fe Springs.
The facility at 11650 Burke St. was completed in 2011.
Another lease in Santa Fe Springs
Golden Specialty Foods leased this 40,000-square-foot distribution facility at 14518 Best Ave. in Santa Fe Springs.
The 60-month lease is valued at $3 million, according to Lee & Associates.
The landlord is Best Ave Centre LLC.
Big Perris property leases up
IDI Logistics has landed a tenant for a 804,000-square-foot logistics hub at Rider Logistics Center in Perris.
Building 2 at the the complex sits at 450 E. Rider St.
Colliers, which negotiated the transaction for IDI, declined to identify the tenant, which was represented by CBRE.
“This deal is yet another testament to the persisting demand in the Inland Empire, with industrial leasing activity surpassing 14 million square feet in Q1 2025 for the third time in history,” said Mark Zorn, a vice chairman at Colliers.
IDI bought the property in 2019, completing construction on 450 E. Rider St. in March 2023. Building 2 is the largest of three within the Class A center. Building 3, at 643,263 square feet, is leased by Sketchers, while Building 4 (548,019 square feet) is vacant.
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Mary Jane McCoy, class of 1967 at Cal State College San Bernardino and a career educator in the Inland Empire, will receive an Honorary Doctor of Humane Letters at the university’s commencement ceremony on May 17, 2025. (Corinne McCurdy/CSUSB)
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Mary Jane McCoy, class of 1967 at Cal State College San Bernardino and a career educator in the Inland Empire, will receive an Honorary Doctor of Humane Letters at the university’s commencement ceremony on May 17, 2025. (Corinne McCurdy/CSUSB)
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Honorary doctorates
Mary Jane McCoy, a career educator in the Inland Empire, will receive an Honorary Doctor of Humane Letters at California State San Bernardino’s spring commencement on May 17.
McCoy was an elementary school teacher and a principal in San Bernardino before she retired from the San Bernardino City Unified School District in 1992. She moved to Spokane, Washington, where she continued working with nonprofits and advocating for career development opportunities for homeless people.
In 2017, she established an endowment for students at CSUSB, providing money for books, housing, tutorial assistance and tuition assistance.
Paul C. Granillo will receive a CSU trustee-nominated Honorary Doctor of Humane Letters.
A CSUSB alumnus, he is president and chief executive of the Inland Empire Economic Partnership, a role he has had since 2010. IEEP works in Washington, D.C., Sacramento and locally to ensure Inland Empire issues are well represented. Granillo has also focused on leadership training for the next generation of the Inland Empire’s public and private sector leaders.
Milestones
Vineyard Place in Murrieta was recently recognized by U.S. News & World Report as a 2025 Best Memory Care Community. The facility owned by Anthem Memory Care was commended for its activities and enrichment. “It’s an honor to be recognized as one of the “best” memory care communities for the hard work and quality of care our team provides every day,” said Lewis McCoy, Anthem Memory Care’s chief operating officer. Vineyard Place is at 24325 Washington Ave.
Gubernatorial appointments
Riverside Mayor Patricia Lock Dawson recently was appointed to the California Air Resources Board. The position requires Senate confirmation. There is no compensation. Lock Dawson is registered without party preference.
News from last week
Jack in the Box announced last week it will close as many as 200 restaurants and possibly sell Del Taco, a chain it purchased just three years ago. The San Diego-based fast-food chain said it is focusing more on the Jack in the Box, while shuttering underperforming restaurants and raising cash to eventually pay down $300 million in debt. — San Diego Union-Tribune
Canada’s largest Asian grocery store chain is expanding to Southern California, opening its first supermarket in Irvine’s Great Park Neighborhoods next year while establishing its first U.S. regional headquarters in Brea where it will oversee even more store openings. Tina Lee, chief executive of T&T Supermarket Inc., said she knew expanding to the U.S. was a good idea when the company saw Washington state residents driving across the border to shop in Vancouver. — SCNG staff writer Pat Maio
Existing home sales slumped 5.9% in March to their lowest level since November 2022. Home sales fell short of the 4.12 million pace economists were expecting, according to FactSet. A key reason for the slow spring buying season is high mortgage rates, which climbed to their highest levels in two months, according to the National Association of Realtors. — The Associated Press
The business briefs are compiled and edited by Business Editor Samantha Gowen. Submit items to sgowen@scng.com. High-resolution images can also be submitted. Allow at least one week for publication. Items are edited for length and clarity.
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