Real Estate

Construction has begun on a 613,000-square-foot industrial project in Riverside. Sycamore Hills Distribution Center is being built on 34 acres along Alessandro Boulevard and Barton Street, just west of Interstate 215’s Alessandro Boulevard on/off ramp, according to a statement. The Rockefeller Group is developing the $87.2 million project, which will …

A 34-unit apartment complex in Riverside has been sold for $7.7 million. The Potomac Apartments generated multiple offers and sold for $227,941 per unit, according to CBRE. The complex in the 7400 block of Potomac Street is about a mile and a half from California Baptist University. It has studio, …

California’s housing market slowed in March, as the state recorded its first year-over-year drop in sales in three months. Sales of existing single-family homes totaled 267,470 last month, down 7.8 percent from February and down 4.4 percent compared with March 2023, according to the California Association of Realtors. Those figures …

The Inland Empire office market has gotten off to a decent start in 2024, thanks to short-term leases that have helped keep vacancy rates low. The region’s 8.8 percent vacancy rate during the first quarter was essentially unchanged from the third quarter of 2023, mostly because many large tenants signed …

A 20,000-square-foot shopping center in Corona has been sold. Pacific Petroleum Inc. bought Main Street Village from LJZ Corona LLC for $7.8 million, according to a statement released April 16 by CBRE. Main Street Village is at 135-265 E. Ontario Ave. Built in 2005, its tenants include Mr You Chinese, …

Developer-Church Partnerships Blaze New Path for Needed Housing, Stronger Communities California’s latest innovation in tackling the surging crisis in affordable housing streamlines the process for building on underutilized church land – a practice pioneered by National CORE. Senate Bill 4, known as the Affordable Housing on Faith Lands Act, allows …