Friday , May 24 2024

Real Estate

Sorelle Apartments in Moreno Valley sells for $85 million

A 330-unit apartment complex in Moreno Valley has been sold for $85 million. Tower 16 Capital Partners in San Diego bought the Sorelle Apartments in an off-market transaction, according to a statement released Monday. The seller’s name was not released. This is Tower 16’s seventh purchase of a multifamily property …

Read More »

OC firm buys Redlands apartment complex

An investment firm has purchased a 124-unit apartment complex in Redlands for $46.2 million. Irvine-based SB Real Estate Partners, which specializes in multifamily properties, bought ReNew Redlands and immediately renamed it Portola Redlands, according to a statement released this week. The seller’s name was not disclosed. SB Real Estate plans …

Read More »

Inland retail market has solid quarter

The Inland Empire’s retail vacancy rate was eight percent during the third quarter, unchanged from the second quarter and down 80 basis points year-over-year. Riverside and San Bernardino counties absorbed 70,613 square feet of retail space during the third quarter, and there were 926,428 square feet of retail space under …

Read More »

Jack in the Box is sold

Jack in the Box is sold

A Jack in the Box Drive-Thru in Pomona has been sold for $2.7 million. Located at 101 W. Foothill Blvd., the restaurant was purchased by a San Gabriel-based investor whose name was not released, according to Progressive Real Estate Partners in Rancho Cucamonga. Progressive represented the buyer in the transaction, …

Read More »

Southern California Logistics Center sold

A New York-based investment firm has purchased the Southern California Logistics Center in Victorville. H.I.G. Realty Partners bought the center – a 3.4 million square foot industrial project located on the former George Air Force Base – in an off-market transaction, according to a statement released yesterday. Cost of the …

Read More »

State housing market bounces back

housing market

California’s housing market reversed a four-month sales decline, according to data released Monday. Sales of existing, single-family homes totaled 438,190 in September up 5.6 percent from August and down 10.5 percent from September 2020, the California Association of Realtors reported. Statewide, September’s median home price was $808,890, a 2.3 percent decline …

Read More »