Real Estate

The average price of a single-family home rose 5.3 percent nationwide in March, the 46th consecutive month of year-over-year growth, according to data released this week. Prices are expected to rise between 3.7 percent and 5.6 percent during the next 12 months, Irvine-based CoreLogic reported in its Home Price Index …

A 162,000-square-foot shopping center in Rancho Mirage has been sold. Rancho Las Palmas, which sits on 15 acres at at 42240-42540 Bob Hope Drive, was sold recently for an undisclosed sum, according to a statement. DRA Advisors, a New York-based real estate investment company, and Paragon Commercial Group, a retail …

A 340,000-square-foot industrial facility in San Bernardino has been sold. Dallas-based Dalfen Industrial bought the project at 4982 Hallmark Parkway from Bixby Land Co. in Newport Beach, according to a statement. Cost of the transaction was not disclosed. JLL represented both parties in the negotiations. The warehouse-distribution facility is fully …

Progressive Real Estate Partners in Rancho Cucamonga has negotiated the sale of a Los Angeles strip mall. The 7-11-anchored facility at 728 W. Vernon Ave. sold for $3.5 million in an all-cash transaction, according to Progressive. The buyer and seller were both private investors in Los Angeles County whose names …

Construction has begun on a 613,000-square-foot industrial project in Riverside. Sycamore Hills Distribution Center is being built on 34 acres along Alessandro Boulevard and Barton Street, just west of Interstate 215’s Alessandro Boulevard on/off ramp, according to a statement. The Rockefeller Group is developing the $87.2 million project, which will …

A 34-unit apartment complex in Riverside has been sold for $7.7 million. The Potomac Apartments generated multiple offers and sold for $227,941 per unit, according to CBRE. The complex in the 7400 block of Potomac Street is about a mile and a half from California Baptist University. It has studio, …