Real Estate

An industrial building in Ontario is about to undergo a major renovation. Shea Properties announced recently that it will add 124,250 square feet to one of its five buildings at Shea Ontario Center, according to report originally published in The Press-Enterprise. Voit Commercial Ontario is leasing the 1.6-million-square-foot logistics operation …

NAIOP Inland Empire has been honored for its charity work and community service by that organization’s governing body. NAIOP Corporate recently presented the local chapter, which raised $31,000 for charities last year, with its 2014 Chapter Merit Award for community service, according to a statement. The chapter is made up …

A 400,000-square-foot warehouse-distribution facility in Moreno Valley has been approved. The city council voted 5-0 Tuesday to approve the project, which is being developed by First Industrial, according to report first published by The Press-Enterprise. Council members took that action despite some public opposition to the development and an environmental …

The local housing market is definitely slowing down. Sales year-to-year were down 13.8 percent in Riverside County and 5.9 percent in San Bernardino County in February, according to DataQuick in San Diego. In Southern California, single-family home sales dropped 12 percent compared with February 2012. A little more than 14,027 …

A community shopping center in Moreno Valley has been sold. TownGate Center, which sits on 28 acres near Moreno Valley Mall, was sold to Brixton Capital of San Diego for $41.9 million, according to a report originally published in The Press-Enterprise. The sale closed last week. TownGate Center’s anchor tenants …

San Diego-based KB Home Coastal Inc. has purchased an infill parcel in Murrieta. The 52 lots are on Jackson Avenue immediately south of the Interstate 15-215 crossing, said David Harbour, senior land advisor with WD Land in Irvine. Each lot is undeveloped and covers about 3,000 square feet. Cost of …