Real Estate

The Inland Empire’s foreclosure rate dropped slightly in December, according to data released Thursday. Riverside and San Bernardino counties’ foreclosure rate among outstanding mortgages was 0.47 percent during the last month of 2016, down from 0.70 percent in December 2015, Irvine-based CoreLogic reported. That was below the national foreclosure rate …

A 3,700-square-foot retail building in Riverside that has been occupied by a Denny’s restaurant for 50 years has been sold. The property, at 3530 Madison St., sold for $3.5 million to Yuanqi International in Arcadia, according to Faris Lee Investments in Irvine, which helped negotiate the sale. Hfc/Prp Madison, LLC, …

Pardee Homes in Pasadena has purchased 359 residential lots in Menifee, where it plans to develop three neighborhoods. The seller was Menifee Heights Inc. LLC, a group of private investors, according to WD Land in Irvine, which helped negotiate the transaction. The land is now raw open space that must …

In other housing news, cash sales of homes and condominiums were down nationwide in November. Cash transactions made up 32.4 percent of all home sales during the next-to-last month of 2016, down 4.5 percent year-over-year, according to data released Monday by CoreLogic. That was 14.2 percent below the peak the …

January was a solid month for home sales in Southern California. A total of 15,422 new and previously occupied houses and condominiums were sold in the six-county region last month, the most sold in during January since 2013, Irvine-based CoreLogic reported Monday. That marked a 24.6 percent drop from December …

Newmark Grubb Knight Frank has completed the sale of Empire Towers I-IV, an office development in Ontario. The complex, which covers 400,976 square feet, sold for $78.5 million, according to a statement released Tuesday. The seller was a joint venture between CIP Real Estate in Irvine and Guggenheim Partners LLC, …