MGR Real Estate Acquires Class A Office Building in Ontario for $33.7 Million

MGR Real Estate has completed the acquisition of 901 Via Piemonte, a prominent Class A office building situated in Ontario, California. The five-story, 122,602-square-foot property was purchased from Greenlaw Partners LLC for $33.7 million. Built in 2008, the building features modern amenities including 1,000 onsite parking spaces, advanced security systems, and energy-efficient infrastructure, making it a desirable asset in the region's commercial real estate market.

Cushman & Wakefield played a key role in facilitating the transaction, with Jeffrey Cole, Nico Napolitano, Kristen Schottmiller, and Ted Terry representing the seller. On the buyer's side, Michael Rademaker and Tony Hermosillo of MGR Real Estate handled the representation. This sale underscores continued investor interest in high-quality office spaces within Southern California, reflecting confidence in the area's economic fundamentals. The acquisition by MGR Real Estate adds a significant Class A asset to its portfolio, signaling ongoing activity in the commercial property sector. Developers and investors should note the sustained demand for well-maintained, modern office facilities in strategic locations like Ontario.