IRVINE, CA—Much of the inventory in Downtown Riverside is municipality owned, and rents are still not recovered enough to justify development, so acquisitions in this market are rare, Eric Smyth, principal of Irvine-based CIP Real Estate, tells As we reported last week, the firm has acquired Center Tower Riverside a five-story, 73,000-square-foot, class-A office property in Downtown Riverside and has inked new management contracts for Ontario Airport Towers, a six-story, 147,000-square-foot, class-A office property, and Empire Towers V, a five-story, 125,000-square-foot, class-A office building, both of which are located in the Ontario International Airport submarket. We spoke exclusively with Smyth about these acquisitions and what attracts the firm to the Inland Empire office market. Why does the Inland Empire office market interest you?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.