09/17/2021
Davenport Partners acquires 301 E. Vanderbilt, San Bernardino
Newport Beach, Calif. (September 17, 2021) — Davenport Partners has again added to its Inland Empire portfolio, acquiring 301 E. Vanderbilt Way, an approximate 75,000-square-foot, four story, Class A multi-tenant office building. The Property is at the southeast corner of S. Waterman Avenue and E. Vanderbilt Way, one block from Hospitality Lane, and mere minutes from 10 and 215 Freeways. Located within the Tri-City Corporate Centre, one of the most prominent mixed-use campuses in the Inland Empire, the high image property offers an incredible and abundant array of on-campus retail, restaurant, and hospitality options.
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, 202 East Airport in San Bernardino and its recent purchases this year of 1101 California Avenue in Corona and 1906 S. Commercenter East 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.
Davenport Partners continues to seek strategic growth opportunities in the region.
Built in 1988, the property was approximately 32% leased at the time of purchase. Davenport intends to immediately offer a range of rent ready speculative suites.
About Davenport Partners
Davenport Partners, formed in 2002, is comprised of principals who were former partners, officers and shareholders of Spieker Properties (NYSE: SPK). While at Spieker, the principals were responsible for acquiring and developing over 80 properties consisting of nearly 12 million square feet and $1.5 billion in project cost. Spieker merged with Equity Office Properties (NYSE: EOP) in July 2001. Davenport Partners continues to seek investments and/or re-development opportunities in distressed, value-add and core plus properties. Occasionally, the Company will provide fee management services for select owners of commercial properties, including property management, leasing, development management, construction management and land entitlements.