IE Business Daily Business news for the Inland Empire.
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 …
Read More »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 …
Read More »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 …
Read More »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 …
Read More »Flat housing market for SC in August
Southern California’s median home price was flat in August, and sales of single-family homes and condominiums were down slightly year-over-over, according to data released Wednesday. Last month, the median home price in the six-county region – the Inland Empire plus Los Angeles, Orange, San Diego and Ventura counties – was …
Read More »Joshua Tree apartment complex changes hands
One of the largest apartment properties in Joshua Tree has been sold. Quail Springs Village, a 75-unit complex at 62220 Verena Road, sold for $6.5 million, CBRE announced in a statement released Monday. The buyer was Pro Residential, a multifamily investment and property management firm in Los Angeles. The seller …
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