Newmark Brokers $24.675M Off-Market Sale of Lakeview Office Campus in Ontario, California

Newmark has arranged the off-market sale of Lakeview, a two-building Class A office campus in Ontario, California, to MGR Real Estate for $24.675 million, the firm announced May 1, 2026. The transaction involves a 106,345-square-foot property situated within the Inland Empire West submarket and includes 1.85 acres of excess land designated for future development.

Deal Details and Brokerage Team

Newmark Vice Chairman Paul Jones and Senior Managing Director Brandon White, working in collaboration with Co-Head of U.S. Capital Markets Kevin Shannon, represented the seller, BH Properties, in the transaction. MGR Real Estate was self-represented by its Founder and Chief Executive Officer, Michael G. Rademaker, and Tony Hermosillo, Vice President of Real Estate.

"We are pleased to have facilitated this off-market transaction of a premier Class A campus with meaningful optionality," said Jones.

Property Overview: Lakeview Office Campus

Lakeview comprises two Class A, three-story office buildings totaling 106,345 square feet on a 7.85-acre site. Built in late 2004 as part of the master-planned Centrelake Business Park, the campus features a steel-and-glass exterior, central lobbies, and a courtyard overlooking a lake. The property carries a parking ratio of 4.1 spaces per 1,000 square feet, which can be expanded using the 1.85 acres of excess land included in the sale.

The campus is positioned with direct access to the I-10 Freeway between Haven Avenue and Archibald Avenue in Ontario, California. Surrounding amenities include restaurants, hotels, Ontario Mills, Toyota Arena, the Ontario Convention Center, and Ontario International Airport, which is located less than one mile from the property.

MGR Real Estate's Inland Empire Strategy

For MGR Real Estate, the Lakeview acquisition adds to a portfolio of assets in the Inland Empire region. Rademaker cited the property's location near existing MGR holdings as a factor in the purchase decision.

"We are excited to add Lakeview to our growing portfolio of high-quality assets in the Inland Empire," said Rademaker. "The property's strong fundamentals, combined with its prime location, strategically located nearby many of MGR's current assets, align well with our long-term investment strategy."

The inclusion of 1.85 acres of excess land provides MGR with additional optionality beyond the existing office square footage.

About Newmark

Newmark, listed on Nasdaq as NMRK, reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026, and operates from more than 185 offices with over 9,600 professionals across four continents.