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Real Estate

U.S. home prices rise

Home Prices Increase

Home prices nationwide increased 5.6 percent in September year-over-year, according to data. That upward trend is expected to slow during the next year: prices of single-family homes and condominiums will rise 4.7 percent between September of this year and September 2019, Irvine-based CoreLogic reported. “The erosion of affordability in the …

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Lake Elsinore retail property sells

Lake Elsinore Marketplace, a 13-year-old regional shopping center, has been sold. The property, which is anchored by a Grocery Tree, PetSmart and Dollar Tree, changed hands for $44.2 million, according to Hanley Investment Group, a retail investment advisory firm in Corona Del Mar that specializes in retail sales. The transaction …

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Southern California housing market hits 10-year low

The Southern California housing market might finally be cooling down. Sales of houses and condominiums in September were down nearly 22 percent compared with August and 17.7 percent year over year, Irvine-based CoreLogic reported yesterday. Total sales in the six-county region were 17,369, the lowest number for that month since …

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Riverside office project sold

A Class A office property in downtown Riverside has been sold. The two-building complex sold for an undisclosed sum, according to a statement released Monday by Newmark Knight Frank. The seller was a partnership between CarVal Investors, a global firm that specializes in distressed properties, and EverEWest Real Estate Investors, …

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Montclair shopping center changes hands

Montclair Plaza Inland Empire

A Montclair shopping center has sold for $4 million. Shops at Mission Square, a 5,800-square-foot project at 4467 Mission Blvd., sold in an all-cash transaction, Progressive Real Estate Partners in Rancho Cucamonga announced Monday. Progressive Real Estate and Epsteen & Associates San Diego represented the seller, a private investor in …

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Inland office vacancy drops

A little more than 395,000 square feet of office space was absorbed in the Inland Empire during the first nine months of this year, according to data released this week. That activity was divided almost equally between the east and west end, according to CBRE’s third-quarter report on the Inland …

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