Torguard was represented by John Stephens of Marcus & Millichap's Ontario office. Stephens also represented the buyer, Joseph Bulwa of Arcadia.
According to local experts, demand is setting the Inland Empire market on fire. It is being driven mainly by strong population and job growth, which the area continues to experience despite a weakening national economy. Rents are expected to rise as the year progresses, since new supply will be unable to meet the high level of demand. The Inland Empire is ranked as one of the top 10 tightest multifamily markets in the nation, according to a report released earlier this summer by Grubb & Ellis.
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