Acquisition: 1101 California Avenue
Davenport Partners has acquired 1101 California Avenue, an approximate 40,000-square-foot, two story office building in Corona. The Property is at the corner of California Avenue and Rimpau Avenue, less than ½ mile from the Magnolia Avenue exit on the 15 Freeway (a major north/south interstate highway) and minutes from the 91 Freeway.
The acquisition follows many other Inland Empire investments by the company since its inception in 2002. Davenport Partners has acquired, leased and managed Mountain Grove Office Park in Upland, Sixth Street Center in Ontario, Towers at Riverwalk in Riverside, Ten-O-Three building and Mount Vernon Plaza in Colton and 202 East Airport in San Bernardino. During the Davenport Partner’s Spieker Properties days, it owned Corona Corporate Center located at 450 E. Rincon in Corona; One Lakeshore, Empire Corporate Center, Ontario Corporate Center, and Ontario Gateway I & II; all in the Ontario area. In addition, it owned Regional Office Center I, II and III in Redlands. Most of these properties have very similar building features and tenant characteristics as 1101 California.
Davenport Partners is proud to expand its presence in the Inland Empire and Corona proper, as it is known to be the gateway to the Inland Empire. It serves as a cost-effect bedroom community to Orange County as well as the Inland Empire to San Diego from the Inland Empire and Los Angeles.
Davenport Partners continues to seek strategic growth opportunities in the region.
Built in 1990, the property was approximately 91% leased at the time of purchase. It offers many walkable amenities including restaurants, fast food outlets, grocery stores, banks, a Starbucks, and other services.