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Lee & Associates IE Receives Top Real Estate Ranking

For the 2013 rankings, the IEBJ ranked real estate firms across the Inland Empire to come up with a roster of the most active companies

 
PRLog - Nov. 21, 2012 - TORRANCE, Calif. -- The Inland Empire offices of one of the country’s  largest broker-owned commercial real estate firms Lee & Associates were collectively ranked No. 2 on the Commercial Real Estate Brokers Serving the Inland Empire list by the Inland Empire Business Journal. The Lee offices included were Ontario, Riverside and Victorville which completed a total transaction volume of $653.5 million.

For the 2013 rankings, the IEBJ ranked real estate firms across the Inland Empire to come up with a roster of the most active companies. This year’s list featured the top 12 representation companies ranked by total transaction volume.

“We take a great deal of pride in this IEBJ ranking in regards to all of our Inland Empire offices,” said Donald Brown, president of Lee & Associates Victorville. “The outstanding team of brokers in the Inland Empire is truly responsible for the firm’s collective success and the quality of our service, while our dedication and expertise will continue to push our offices forward with the same high standards.”

In the past 12-month period between October 2011 and October 2012, the offices completed a total lease value of $349 million and sales totaling $304.6 million. Some recent notable transactions include the $17.4 million sale of Meridian Parkway in Riverside, Calif., the $3.4 million sale of Sterling Centre in Redlands, Calif. and the $15 million sale of Bixby Archibald Business Center in Ontario, Calif.

“The Inland Empire Industrial market is one of the most robust markets in the U.S.  It has been slowly trending upward, attracting the attention of large distribution and logistics companies with major demand for big box,” said Don Kazanjian, president of the Lee & Associates Ontario office. “While 22 buildings totaling over 9.5 million square feet were under construction in the Inland Empire in the 3rd Quarter 2012, several big box buildings were leased before construction was completed or even started.  Leasing activity has been picking up, while lease terms are looking brighter, such as the 250-month lease completed at 2191 Burgundy in Ontario. The overall average lease term was 6 years for buildings over 200 thousand square feet.”

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