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Real Estate

Ground breaking for major industrial project

High Desert Industrial Project Underway

Construction has started on a 598,000-square-foot industrial project in Fontana. Sierra Lakes Commerce Center is being built on 27.5 acres on Sierra Avenue about half a mile north of the Foothill Freeway, according to a statement released Wednesday by Trammell Crow Co. and Clarion Partners LLC, the building’s developers. The …

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Pending home sales down again

Home Sales Decline

Pending home sales in California were down in April, the result of low inventory and declining affordability, according to data released Wednesday. The state’s pending home sales index was down 7.4 percent year-over-year, to 113.7, the Los Angeles-based California Association of Realtors reported. That was the fourth consecutive month that …

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Housing conference scheduled

BIA Baldy View Chapter Announces New President

The Baldy View Chapter of the Building Industry Association of Southern California will hold its fourth annual Housing Policy Conference June 2 at the DoubleTree Hotel in Ontario. Ben Metcalf, director of California’s Department of Housing and Community Development, will deliver the keynote address, according to a statement. Attendees will …

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Shopping center will get upgrade after being sold

Retail Building Sells

A neighborhood shopping center in Corona has been sold. Temescal Village, a 102,976 square-foot facility 1181-1199 Magnolia Ave., was purchased for nearly $17 million by Passco Cos. in Irvine, which buys, develops and manages commercial and multi properties throughout the United States, according to a statement. Cushman & Wakefield’s Irvine …

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Southern California home prices sizzle

Home Prices Increase

April was definitely a seller’s month in the Southern California housing market. The median price of a home in the five-county region reached $485,000 last month, up 6.2 percent compared with April 2016, Irvine-based CoreLogic reported. Sales were another matter. A total of 20,244 new and resale houses and condominiums …

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Company to put its entire operation under one roof

Industrial Market Stays Hot

Airbus DS Communications Inc. in Temecula, which makes public safety communications systems, is consolidating. The company has signed a 12.5-year lease on a 106,760-square-foot industrial building at 41995 Zevo Drive, according to a statement. The lease is worth $21 million. The company will move its two Temecula operations into the …

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