Real Estate

A Class-A office building in downtown Riverside has been sold. The building, at 11801 Pierce Road in the Riverwalk project, sold for $7.1 million, according to CBRE Group Inc. The transaction was announced Wednesday. CBRE and Lee & Associates represented the seller, Turner Real Estate Investments in Newport Beach, Continental …

A San Diego real estate and investment firm will develop multi-family housing on 25-acres in Murrieta. Zephyr Properties recently closed escrow in the property near Murrieta Mesa High School, according to multiple reports. The property was originally listed at $4.9 million, but multiple offers drove the price up to close …

Pending home sales in California dropped in August, the fifth consecutive month that the market indicator declined. The state’s Pending Homes Sales Index dropped 4.5 percent, from 104.5 in July to 99.8 last month based on signed contracts, according to a report released Tuesday by the California Association of Realtors. …

A major U.S. homebuilder has purchased 35 single-family lots in Calimesa. D.R. Horton Inc. bought the parcels from Highpointe Communities, a land development company in Aliso Viejo, said Tom Doyle, principal with WD Land in Irvine. The transaction was completed in August and announced last week by WD Land, a …

Single-family home sales dropped in California during August, in part because of rising prices. Sales of single-family detached homes totaled 394,280 units in August, the second-highest sales month so far this year, according to a report released today by the California Association of Realtors in Los Angeles. However, that marked …

A San Francisco-based company will develop a warehouse-distribution facility at the Meridian Business Park in Riverside. Newcastle Partners Inc. has bought 13 acres within the industrial park and will build a 260,000-square-foot speculative project there, according to a statement. Construction on the $20 million development is expected to start during …