Real Estate

A retail site in Moreno Valley that is anchored by an El Pollo Loco restaurant has been sold. The property, at 15135 Perris Blvd, sold for $1.62 million, according to a statement released Tuesday by Ferris Lee Investments. Opened two months ago, the 2,975-square-foot project is at Perris Boulevard and …

The South Coast Air Quality Management District has settled two lawsuits connected with the planned World Logistics Center in Moreno Valley. Developer Highland Fairview will pay an extra air quality improvement fee of 64 cents per square foot for each of the buildings in the massive warehouse-distribution operation, according to …

The Inland Empire office market just registered its strongest quarter in more than three years. Lease rates were stable during the third quarter, dropping only two cents from the previous three months to $1.85 per square foot, according to CBRE Group Inc. The region’s vacancy rate still has some ground …

Cash sales of Inland Empire homes were essentially unchanged in July, according to data released Wednesday. Cash transactions accounted for 23.2 percent of all homes sold in Riverside and San Bernardino counties during that month, a year-over-year drop of 0.6 percent, Irvine-based CoreLogic reported. That was below the national rate, …

A retail building that houses national and regional tenants has been sold. The property, which is part of the Hesperia Marketplace Shopping Center at Main Street and Escondido Avenue, sold recently for $8.5 million, according to Hanley Investment Group Real Estate Advisors in Corona Del Mar. Pacific Development Group in …

Avison Young, the commercial real estate firm, has negotiated a 15-year lease on behalf of 24 Hour Fitness in Riverside. HFC/PRP Madison LLC, the property’s owner, represented itself in the negotiations, according to a statement. Financial terms of the lease were not disclosed. The 38,000-square-foot facility is at 3490 Madison …