IE Business Daily Business news for the Inland Empire.
Park Plaza, a three-building office complex in Redlands, has been sold. Cypress West Partners, a leasing and property management firm in Rancho Santa Margarita that specializes in healthcare properties, bought the project for $6.3 million, according to a statement released by CBRE. The buyer was Northstar Commercial Partners, a commercial …
Read More »Home equity gains posted
Homeowners with mortgages saw their equity grow an average of 9.4 percent year-over-year during the third quarter, according to data. That represented a gain of nearly $775.2 billion in home equity since the third quarter of 2017, Irvine-based CoreLogic reported. Nationwide, the average homeowner gained $12,400 in equity during that …
Read More »Student housing project changes hands
A student housing complex in Riverside has been sold. Sterling Highlander, a 216-unit community at 3080 Iowa Ave., sold for an undisclosed sum, according to a statement. Seattle-based Horizon Realty in Seattle was the buyer, The Dinerstein Cos. in Houston was the seller. The pedestrian complex near UC Riverside consists …
Read More »Study: Home ownership still a goal
A majority of California renters aspire to home ownership, according to a report recently released. Half of the state’s renters rank homeownership “very important” or “extremely important,” and four out of five said they want to own a home, according to the California Association of Realtors’ 2018 State of the …
Read More »Manufacturer to move to larger building
A Temecula company that manufactures suspension seats for off-road vehicles will move to a larger building within the city. Bestop PRP LLC has signed a five-year lease on 43,171-square-feet of industrial property in the 43300 block of Business Park Drive, according to a statement. The landlord is a private investment …
Read More »Housing market continues to slide
The slowing of the Southern California housing market continued in October, as sales of condominiums and single-family homes fell 7.5 percent year-over-year. Total sales were 19,193 last month, the weakest October since 2011, when 16,829 housing units changed hands, Irvine-based CoreLogic reported. Sales did rise 10.3 percent between September and …
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