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Real Estate

Riverside office buildings sells

Sold Sign

A 131-year-old office building in downtown Riverside has been sold. The three-story Loring Building at 3685 Main St. sold for $6.1 million, or $251 per square foot, according to a statement released by CBRE. CBRE represented the seller, a Riverside-based private investment group whose names were not released. The buyer …

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Our Wacky IE Housing Market: The ‘New Normal’ Into 2025?

The popular phrase is overused, but the Inland Empire’s housing market may be settling into a “new normal” for the next 3 – 5 years — and perhaps a disturbing one at that. Think 2025 or 2026 before supply-and-demand market functionality exhibits some long-term traditions that realty agents, mortgage lenders, …

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IE isn’t the only red-hot industrial market

housing market

Inland Empire industrial lease rates rose 24.1 percent year-over-year in the second quarter of this year, the second-highest increase of any U.S. submarket in that time, according to a report. Only Northern New Jersey, which recorded a 33.3 percent increase, was higher, according to a report released Thursday by CBRE. …

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Retail building sells for $3.2 million

building sold

A retail building at the Highland Village Shopping Center in Fontana has sold for $3.2 million. The structure, occupied by Sit ’n Sleep, covers 8,400 square feet and is next to Sprouts Farmers Market, the shopping center’s anchor tenant, according to a statement released yesterday by Hanley Investment Group Real …

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State housing market cools

Sales of existing single-family homes in California’s eased slightly in May, possibly the result of “buyer fatigue,” according to the California Association of Realtors. Overall sales were 445,600 in May, down 2.7 percent in April and up 86.7 percent year-over-year, the Los Angeles-based association reported Wednesday. At the same time, …

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