Real Estate

A Riverside office building has been sold. The five-story structure at 1650 Spruce St., which covers 58,300 square feet, sold for $7.2 million, according to CBRE. Magnon Cos., a Riverside developer, was the seller.  Providence Capital Group Inc., a real estate investment and management firm in Encinitas, bought the building. …

Only 4.3 percent of all Inland Empire mortgages were delinquent by at least 30 days during November, a year-over-year drop of 0.5 percent, according to data released today.’ The region’s serious delinquency rate – 90 days or more past due – was 1.3 percent, down 0.4 percent compared with November …

Multifamily rents in the Inland Empire rose 3.8 percent year-over-year in January, one of the largest increases of any major U.S. submarket during that time. Nationwide, rents rose only $1 during the first month of the year, to an average of $1,362 per month, according to Yardi Matrix, a commercial …

Circle K, the international convenience store chain, and Chevron will develop projects on parcels they purchased recently in the High Desert. The properties, both of which are next to Interstate 15, sold for a combined $4.8 million, according to a statement released Monday by Progressive Real Estate Partners in Rancho …

A manufacturing-distribution facility in Corona has been sold. Alere Property Group LLC, a real estate investment firm in Newport Beach, bought the building for $12.1 million, CBRE has announced. The seller was 66 River Partnership LP, a development firm also in Newport Beach. CBRE represented both parties in the transaction, …

Inland Empire home prices, including distressed sales, rose 7.9 percent in December year-over-year, according to data released this week. Prices were essentially unchanged compared with November, Irvine-based CoreLogic reported. Nationwide, home prices were up 6.6 percent between December 2017 and December 2016, and up 0.5 percent from November. “The number …