IE Business Daily Business news for the Inland Empire.
A vacant logistics building in Temecula has sold. Westcore, a San Diego-based real estate acquisition and asset management firm, bought the structure at 27731 Diaz Road for $10.8 million, according to a statement. “We plan to refresh the warehouse’s existing office space, repaint inside and out and pave the unimproved …
Read More »Ontario industrial building sold
An industrial building in Ontario has sold for $12.9 million. The building, at 3120 E. Mission Blvd., covers 103,376 thousand square feet on 5.8 acres, according to a stament released by CBRE. Dermody Properties, a commercial real estate investment firm in Reno, was the buyer. The seller was The Safariland …
Read More »Car wash chain to locate in Victorville
A self-service car wash chain plans to build its first facility in the Mojave River Valley on a Victorville parcel it bought recently. Quick N Clean is expected to open next spring at 14812 Bear Valley Road, according to a statement released by Progressive Real Estate Partners in Rancho Cucamonga. …
Read More »Industrial report is the calm before the storm
Voit has released its first quarter numbers for the Inland Empire’s industrial sector. It could be the last good report on the local industrial market for awhile. The average lease rate of 72 cents per square foot was essentially unchanged from exactly one year earlier, and the vacancy rate – …
Read More »Ontario logistics parks lands second major tenant
A company that distributes shipping, industrial and packaging materials throughout North America will locate at the Ontario Rancho Logistics Center. Uline, a privately owned business based in Wisconsin, has leased a 1.2-million-square-foot warehouse-distribution building that is under construction at 4815 S. Hellman Ave., according to a statement released Monday. The …
Read More »Home prices rise just before pandemic hits
Home prices nationwide rose 4.1 percent year-over-year in February, reaching their highest level in more than one year, according to data released this week. U.S. home prices rose a mere 0.6 percent between January and February, CoreLogic in Irvine reported. Those numbers were recorded before the Coronavirus pandemic began laying …
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