IE Business Daily Business news for the Inland Empire.
A 182-unit apartment complex in Rancho Cucamonga has been sold. Arte, at 10130 Foothill Blvd., changed hands for $68 million in an off-market transaction, according to a statement released by Avison Young. The seller was Fore Property in Santa Barbara, the buyer was Providence Capital Group Inc. in Encinitas. Avison …
Read More »Housing market expected to take a huge hit
Members of the California Association of Realtors say the Coronavirus will inflict major damage on the state’s housing market. Unfortunately, says one economist and a veteran homebuilder, they’re almost certainly right. If a sampling of California realtors is accurate, the Coronavirus pandemic is going to wreak serious havoc on the …
Read More »Former Acapulco restaurant site is sold
The former home of Acapulco Mexican Restaurant and Cantina in Montclair has been sold. Located at 9405 Monte Vista Ave., the building sold for $2.1 million, according to a statement released by Progressive Real Estate Partners in Rancho Cucamonga. Progressive Real Estate marketed the property and represented the seller, a …
Read More »Coachella apartments sell for record price
A 48-unit apartment complex in Coachella has been sold for a record price in that community. Valle Vista, at Tripoli Way and Cairo Street, sold for $5.3 million, or $111, 979 per unit, according to a statement released by The Mogharebi Group, which helped the negotiate the transaction. That was …
Read More »Downtown Riverside office building changes hands
An office building in downtown Riverside has been sold. The structure, at 2300 Market St., covers 63,760 square feet and was fully leased at the time of sale, according to a statement released by CBRE. Cost of the transaction was not released. The buyer was a Los Angeles-based investor whose …
Read More »Moreno Valley apartment complex sells for $6.6 million
A 45-unit apartment complex in Moreno Valley has been sold. Bevia Apartments, a two-story structure at 13260 Heacock St., sold for $6.6 million to a local investor, CBRE announced today. Built in 1979, the complex covers 39,200 square feet on 2.3 acres. It includes full-time security, gated parking, a laundry …
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