Real Estate

Construction has begun on the first phase of an industrial park in Norco that will eventually cover two million square feet. Palomino Ranch will consist of 24 buildings on approximately 112 acres and will be the largest industrial project in city history when it’s completed, according to the project’s developer, …

Nordstrom Rack has leased 30,000 square feet at a Riverside shopping center. The space at Canyon Springs Marketplace, a 183,000-square-foot facility next to the 60 Freeway, was formerly occupied by Bed, Bath & Bed, according to Progressive Real Estate Partners in Rancho Cucamonga. Details of the agreement were not released. …

The development, which will be built on a large parcel in heart of the city if it’s approved as planned, will reshape the young city, according to officials.   Twelve years after it incorporated, Eastvale is taking the first steps toward developing a downtown that will include a civic center, …

Ramona Plaza, a 102,546-square-foot retail center in Hemet, has been sold. The project at 1300-1480 East Florida Avenue, sold for $13.9 million, according to a statement released by SRS Real Estate Partners’ National Net Lease Group, which helped negotiate the sale. SRS represented the seller, a Southern California-based investor whose …

Twenty six percent of all Californians last year could afford a statewide, median-priced home of $786,750 , a two percent year-over-year drop, according to the California Association of Realtors. A minimum yearly income of $144,400 was needed to make monthly payments of $3,610 on a 30-year fixed-rate mortgage at a …

Progressive Real Estate Partners has completed the sale of a neighborhood retail center in Redlands. The Grove, sold for $8 million to a private investment group that owns similar commercial properties in Riverside County, according to a statement on Progressive’s website. Progressive represented the seller, who was from Los Angeles …