A 16-acre office campus in Ontario, Calif., has been sold to a joint venture for $52 million.

A partnership between The Hileman Co. LLC and Pacific Coast Capital Partners purchased the class A property from The Trenton Group, and the partners will rename the property Waterside Center.

The project, located within the Centrelake Development at Haven Avenue and Guasti Road, consists of two fully leased office buildings known as University Plaza & Sterling Center totaling 175,000 square feet, plus nearly 8 acres of entitled land.

Based on the growing demand in the Ontario Airport office market, Hileman and PCCP will begin construction immediately on Waterside Center II, a $40 million, 150,000-square-foot office building with an anticipated completion date of July 2008. The development team is exploring options for the third phase, which could include office space, a hotel or both, according to project developer Jack Hileman, founding partner and president of The Hileman Co.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription