Real Estate

Vacancy is declining and lease rates are holding steady, but speculative development probably won’t happen in 2016. Absorption will likely continue, and maybe even accelerate, if interest rates remain low. While far from reaching a full recovery, the Inland Empire’s office market showed signs of life during 2015. Its vacancy …

A neighborhood shopping center in Victorville has been sold. The Shops at Bear Valley, a four-building facility that is 95 percent occupied, has sold for $9.8 million, according to a statement released Friday by Faris Lee Investments. The buyer was an investment company in Beverly Hills whose name was not …

A Los Angeles-based company has purchased industrial property in Ontario. Rexford Industrial Trust Inc., which specializes in owning and operating industrial properties in infill markets, bought three buildings at 601-606 S. Milliken Ave. for $13 million, according to a statement released Thursday. The buildings sit on 7.2 acres and cover …

The Inland Empire’s foreclosure rate was essentially unchanged in October. Only 0.7 percent of the region’s housing inventory was in foreclosure at the end of that month, a modest 0.2 percent drop compared with October 2014, according to data released Tuesday by CoreLogic in Irvine. A total of 5,258 homes …

The region’s industrial sector is expected to be strong again next  year, although 2015 might be difficult to match, especially in absorption. Much depends on whether the demand for large e-commerce centers remains strong, according to several brokers. Two thousand and fifteen has been a banner year for the Inland …

Foreclosure rates in the Inland Empire dropped slightly in September compared with one year earlier. Foreclosures among outstanding mortgage loans in Riverside and San Bernardino counties in September was 0.71 percent, a drop of 0.23 percent compared with September 2014, according to data released Thursday by CoreLogic in Irvine. The …