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Real Estate

Perris shopping center lands two more tenants

Two well-known fast-food chains have agreed to locate in Perris. KFC and Little Caesars Pizza will lease 2,200 and 1,400-square-feet, respectively, at the Spectrum Center, according to a statement released this week by Progressive Real Estate Partners in Rancho Cucamonga. Progressive Real Estate represented the landlord, Atlas Properties in Laguna …

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Inland Empire Industrial market sizzles

The Inland Empire industrial market stayed red hot during the first quarter, fueled by the demand for e-commerce created by the pandemic, according to data released today. Vacancy fell to 2.73 percent during the first three months of 2021, despite a number of speculative projects that came on the market …

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Colton apartment complex changes hands

The District at Grand Terrace, a 352-unit apartment complex in Colton has been sold for $88 million. Tower 16 Capital Partners in San Diego, which spent two years and $2.6 million renovating the property, was the seller, according to statement released today. The buyer was MG Partners, a San Diego-based …

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Perris logistics facility sells

Industrial real estate market

Harvill Business Center, a logistics facility in Perris, has been sold. The 423,665-square-foot operation at 20123 Harvill Ave. was sold to Black Creek Group, a Denver-based real estate investment management firm, according to a statement released today. Core5 Industrial Partners in Atlanta, a developer of industrial properties, was the seller. …

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Walgreens building is sold

Sold Sign

A Rialto building occupied by a drive-thru Walgreens has been sold. The 14,410-square foot structure at 918 E. Foothill Blvd. sold for $8.7 million to a private investor, CBRE announced today. The sale price worked out to $605 per square foot. The final price was the most paid for a …

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Home prices remain high

U.S. home prices reached their highest annual gain in nearly 15 years in February, as demand continues to overwhelm supply. Nationwide, the price of a single-family home rose 10.4 percent last month compared with February 2020, the largest year-over-year increase since April 2006, Irvine-based CoreLogic reported today. Home prices are …

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