Monday , December 4 2023
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Real Estate

Industrial project planned for Perris

A real estate investment trust in Chicago has purchased three vacant parcels in Perris, where it plans to build an industrial project. First Industrial Realty Trust Inc. will develop a 315,000-square-foot warehouse-distribution project on the 16.2-acre site, according to a statement released by Avison Young, the Toronto-based commercial real estate …

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Local, national foreclosures remain low

Inland Empire Foreclosures Drop

Three point eight percent of all mortgages nationwide were in some stage of delinquency in July, according to data released Tuesday. That was a 0.3 percent decline year over year, Irvine-based CoreLogic announced in its monthly Loan Performance Insights Reports. “Delinquency” is defined as 30 days or more past due, …

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Inland brokerage negotiates sale Arizona preschool

Progressive Real Estate Partners in Rancho Cucamonga has completed the sale of a preschool in Arizona. Sunrise Preschool in Goodyear, which has been in business for more than 20 years, recently sold for $3.3 million, according to a statement. Brad Umansky, president of Progressive Real Estate, and Mike Lin, the …

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Office building sells for $11.3 million

A Desert Hot Springs office building leased by Riverside County has been sold for $11.3 million. Pierson Plaza, a 38,000-square-foot structure at 65753 Pierson Blvd., was purchased in a 1031 exchange by a Palm Springs real estate investment company whose name was not released, CBRE announced Monday. The seller was …

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Temecula office complex part of property exchange

Toronto-based Avison Young has arranged an exchange of four high-end properties in Southern California, including two in the Inland Empire. The 1031 exchange was worth $26.9 million, according to a statement. Properties included 66 apartment units and a mobile-home park scattered throughout Southern California. All of those were traded for …

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Moreno Valley industrial project breaks ground

Ground has been broken on an industrial project in Moreno Valley that will cover more than 200,000 square feet. The Centerpointe Commerce Center, a warehouse-distribution facility, is being built without a signed tenant, according to Rockefeller Group, the New York company that is building the project. Rockefeller Group bought the …

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