Real Estate

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 …

Single-family home sales fell to a four-year low in August, as the market continued to be plagued by high prices and low inventory. Nearly 18,800 news and resale houses were sold in the six-county region last month, an 18.5 percent drop compared with August 2013, according to CoreLogic DataQuick in …

A three-building industrial park in Ontario has been sold. Airport Distribution Center was purchased by Guthrie Development Co. and an unnamed investment partner for $20.25 million, said Rob Guthrie, president of the Newport Beach-based company. Panattoni Development in Newport Beach was the seller. CBRE Group Inc. Ontario represented Panattoni Development …

Four new retailers, three of them well-known clothing store chains, have leased space at Mountain Grove at Citrus Plaza, the planned lifestyle-entertainment center in Redlands. Old Navy has signed a lease on 15,000 square feet at Mountain Grove, a 480,000-square-foot project under construction next to the Citrus Plaza shopping center, …

Rents are up nationally and locally, as some potential buyers take a closer look at the downside of owning a home. Some experts say the trend, a byproduct of the recession, is likely to be around for awhile. Is owning a home, better known as the American Dream, slowly going …