The new Hanover-Birtcher asset is at 3811-3873 Schaefer Ave. and 13721-13851 Roswell Ave. in the Chino portion of the greater Ontario Airport industrial submarket, off the Grand Avenue exit of the Chino Valley Freeway (Route 71). The 13-building Mountain View Commerce Center was constructed in the mid-1980's and was approximately 98% occupied at the time of the sale. Its tenants consist primarily of industrial and service businesses that average approximately 1,900 sf, in buildings that range from 11,400 to 22,400 sf.

Mark Macedo, chief operating officer for Hanover, says the new joint venture plans to complete an exterior renovation of the property, which represents Hanover's second transaction with Brandon Birtcher as a joint venture partner. Birtcher says the new ownership's plan is to position the project to take advantage of the increased traffic from surrounding retail centers, therefore increasing visibility for the tenants.

For CIP Real Estate, the sale completed a three-year business plan for the project during which the company substantially upgraded the buildings and tenancies, according to Eric Smyth, a principal of CIP.