Sunday , February 16 2025

Real Estate

Retail portfolio sells for $7 million

Retail portfolio sells for $7 million

Four retail properties in San Bernardino have been sold for $7 million. The parcels, all independent of each other, are within 2505-2575 Highland Ave. and are leased to IHOP, Wienerschnitzel, Taco Bell and a 76 station, according to Progressive Real Estate Partners in Rancho Cucamonga. A 1.5-acre parcel that can …

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IE retail post negative net absorption

IE retail post negative net absorption

The Inland Empire retail market recorded 319,000 square feet of negative net absorption during the third quarter. As dismal as that number is, it’s an improvement compared with the second quarter of this year, when 419,000 more square feet of retail space was vacated than was leased in Riverside and …

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Bank property in Murrieta sells for $4 million

Sold Sign

A Murrieta property that is occupied by a Chase Bank has been sold for $4 million. The 1.5-acre parcel at 27980 Clinton Keith Road is in the Vineyard Shopping Center, a 26.3-acre project anchored by a Costco Wholesale store, according to SRS Retail Partners. SRS represented the seller a California-based …

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Desert car wash sells for $2 million

Desert car wash sells for $2 million

A Yucca Valley car wash has been sold for $2 million. The Quick Quack Car Wash at 58024 Twentynine Palms Highway was sold by a private investor in Orange County to a private investor in Newton, Pa., according to Hanley Investment Group in Corona Del Mar. Hanley Investment represented the …

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State home sales drop despite favorable interest rates

State home sales continue to decline

Sales of existing single-family homes in California during September totaled 253,010, down 3.4 percent from August but up 5.1 percent year-over-year. Statewide, the median home price last month was $868,150, down 2.3 percent from the previous month but up 2.9 percent from in September 2023, the California Association of Realtors …

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IE office market posts solid quarter

IE office market posts solid quarter

The Inland Empire office market absorbed 60,548 square feet of space during the third quarter, enough to drop the region’s vacancy rate half a point, to eight percent. Most of that space was added in Riverside, where 26,503 square feet was added during the quarter that ended Sept. 30, according …

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