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Real Estate

Report: Housing costs consume many household incomes

Seven Inland Empire multifamily properties change hands

More than 40 percent of Inland Empire households spend at least one-third of their income on housing, a UC Riverside report has found. The study – “Housing and Sustainability in the Inland Region: Affordability, Equity, and Changing Demographics – also found that housing construction in Riverside and San Bernardino is …

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Chino self-storage facility changes hands

Sold Sign

A 701-unit self-storage facility in Chino has been sold. Westport Properties Inc. in Irvine bought the facility at 13555 Ramona Ave. for an undisclosed sum, according to a statement released last week. The sellers name was not released. Westport, which owns and operates more than 13.2 million square feet of …

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Inland retail market stays up

Nationwide housing prices take record jump

The Inland Empire’s retail sector put up solid numbers during the fourth quarter, despite persistent inflation and a tighter-than-normal credit market. Vacancy was 6.5 percent, unchanged from the previous quarter, while the average lease rate of $2.15 per square foot represented a modest four-cent decrease compared with the third quarter, …

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Home prices grow, but at a slower rate

The growth in U.S. home prices continued to decline in January, according to data released this week. Prices grew 5.5 percent year-over-year during the first month of the year, that number marked the ninth consecutive month that price growth nationwide was lower than one year earlier, Irvine-based CoreLogic reported. “While …

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Major industrial project to be developed near speedway

IE manufacturing

A 6.6-million-square-foot logistics facility is being planned near Auto Club Speedway in Fontana. The ACS Logistics Center will be developed on land purchased last month by Hillwood Investment Properties and CBRE Investment Management, according to Corion Properties. Santa Monica-based Corion Properties helped negotiate that transaction. Hillwood Investment Properties is a …

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Retail landmark sells for $3 million

A San Jacinto retail center has been sold for $3 million. Farmer’s Corner, a 77,000-square-foot indoor facility at 2500 S. San Jacinto Ave., was sold by an Orange County investor to an investor from Oregon, according to Progressive Real Estate Partners in Rancho Cucamonga. Progressive represented both parties in the …

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