Real Estate

Higher interest rates are affecting the economy, including the local industrial market, according to several local brokers.  Neither is predicting a disaster, just a slower-than-normal year. Despite rising interest rates and threats of a recession, the Inland Empire industrial market performed extremely well in 2022.   During the third quarter, …

Progressive Real Estate Partners has helped negotiate the $4.4 million dollar sale of a San Diego County retail center. The Rancho Cucamonga brokerage marketed the property in Carlsbad and represented the seller, a New York-based investor whose name was not released, according to a statement by Progressive. Information regarding the …

Construction has begun on a 2.2-million-square-foot industrial park in Calimesa. Birtcher Oak Valley Commerce Center is being built at Singleton and Roberts roads next to Interstate 10, according to Birtcher Development LLC in Newport Beach, the project’s developer. The cost of the project was not disclosed. Construction is expected to …

Two point eight percent of all U.S. home loans were in some state of delinquency in September, a decline of 1.1 percent year-over-year, according to a recent report. About 1.4 million loans were at least 30 days or more past due during the ninth month of 2022, Irvine-base CoreLogic reported …

An Orange County developer plans to build a 100,000-square-foot industrial building in Perris. The structure will be developed at Ramona Expressway and Brennan Avenue without a signed tenant, according to Westport Properties Inc. in Irvine. Construction is expected to start during the third quarter of 2023 and be completed in …

Sales of existing single-family homes in California totaled 274,040 in October, down 10.4 percent from September and down nearly 37 percent year-over-year, according to a report released this week. That was the lowest sales level since February 2008 and the largest year-over-year decline since December 2007, not counting the pandemic, …