Real Estate

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 …

A company that builds resort communities for seniors is developing a 75,000-square-foot project in Upland. Oakmont of San Antonio Heights is under construction on 3.2 acres at Euclid Avenue and 24th Street, near San Antonio Community Hospital and the Colonies Crossroads Shopping Center, according to a statement. Santa Rosa-based Oakmont …

A pet food company has signed a 15-year lease on an industrial building near Ontario International Airport. The company, whose name was not released, will occupy a 108,700-square-foot building on five acres at 2400 E. Francis St., according to Colliers International. Value of the lease, which was announced Tuesday, is …