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MGR Real Estate Purchased Ontario Office Building

The firm acquired the 122,600-square-foot office property at 901 Via Piemonte for $33.8 million.

Updated on Sept. 23, 2026 in Commercial

A modern glass and concrete office building exterior under a bright, clear morning sky.
MGR Real Estate purchased a 122,600-square-foot office property at 901 Via Piemonte in Ontario for $33.8 million from Greenlaw Partners. AI Illustration. Upload story photo >

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MGR Real Estate has acquired an office building located in Ontario for $33.8 million. The transaction involves the 122,600-square-foot facility formerly owned by Greenlaw Partners.

Why it matters

The sale highlights ongoing investment activity within the Inland Empire office market despite broader shifts in commercial real estate demand. This transaction follows the building's previous trade in 2018, reflecting a valuation increase for the property.

The property at 901 Via Piemonte sold for $276 per square foot and includes 1,000 parking spaces. It serves tenants such as Bank of America, Hillwood Enterprises, and Cushman & Wakefield.

The players

MGR Real Estate

This is a commercial real estate firm that manages and acquires office, retail, and industrial properties.

Greenlaw Partners

This is a real estate investment and development firm that focuses on the acquisition and management of commercial assets.

Cushman & Wakefield

This is a global commercial real estate services firm that provides advisory and brokerage services to property owners and tenants.

The details

Greenlaw Partners originally acquired the 2008-built property in 2018 for $29.5 million, marking a 15 percent price increase with this latest sale. Cushman & Wakefield acted as the representative for the seller during the deal.

Timeline

  1. Building construction was completed in 2008.

  2. Greenlaw Partners purchased the building in 2018.

  3. The Inland Empire direct office vacancy rate was measured at 8.7 percent in Q2 2026.

  4. MGR Real Estate acquired the property in September 2026.

Culture Shift

This acquisition reflects the continued movement of capital within suburban office markets as investors reevaluate portfolio assets. It highlights a market environment where local vacancy trends in the Inland Empire provide a backdrop for regional commercial property valuations.

Current tenants, including Bank of America and Cushman & Wakefield, will continue operations under the new property ownership. The transition does not immediately change lease terms for existing occupants of the Ontario site.

The takeaway

Commercial property investors are demonstrating confidence in specific Inland Empire office assets despite broader market fluctuations. Stable tenant rosters and parking availability remain key metrics for valuing these suburban office properties.

Further reading

For more information on regional developments, see Commercial.

Source note: This article includes information reported by The Real Deal New York.

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