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Real Estate

Logistics property sells for record price

A Rancho Cucamonga warehouse has been sold, reportedly for the highest price paid this year for an Inland Empire industrial property. The 486,600-square foot building at 9050 Hermosa Ave. sold for nearly $70 million, or $147 per square foot, according to a statement. The buyer was Deutsche Wealth Services, the …

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Cathedral City apartment complex fetches record price

Presidio Park, a 45-unit apartment community in Cathedral City, has sold for a record price. The property at 69150 Gerald Ford Drive changed hands for $7 million, or $155,556 per unit, according to a statement. The buyer was a private investment group in Riverside, the seller a family partnership in …

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High Desert commercial, property sells

More than 15 acres of prime commercial land in Hesperia has been sold. The four parcels – three at Interstate 15 and Ranchero Road and one at Tamarisk Avenue and Ranchero Road – changed hands for a combined $4.3 million, Progressive Real Estate Partners said in a statement. The first …

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Mortgage delinquencies stay low

Four percent of all U.S. mortgages were in some stage of delinquency in August, according to data. That was a 0.6 percent decrease compared with August 2017, Irvine-based CoreLogic reported in its monthly assessment of nationwide loan performance. “Delinquency” is defined as any loan 30 days or more past due, …

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U.S. home prices rise

Home Prices Increase

Home prices nationwide increased 5.6 percent in September year-over-year, according to data. That upward trend is expected to slow during the next year: prices of single-family homes and condominiums will rise 4.7 percent between September of this year and September 2019, Irvine-based CoreLogic reported. “The erosion of affordability in the …

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Lake Elsinore retail property sells

Lake Elsinore Marketplace, a 13-year-old regional shopping center, has been sold. The property, which is anchored by a Grocery Tree, PetSmart and Dollar Tree, changed hands for $44.2 million, according to Hanley Investment Group, a retail investment advisory firm in Corona Del Mar that specializes in retail sales. The transaction …

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