Real Estate

A 330-unit apartment complex in Menifee has been sold for $156 million. Artesa at Menifee Town Center was purchased by MG Properties Group, a San Diego real estate company that invests, redevelops, and manages multifamily properties. Irvine-based MBK Rental Living sold the property, a 15-acre development at 30414 Town Center …

A 333,600-square-foot warehouse-distribution building in Perris has been sold. Harvill Logistics Center in Perris sold recently for $57.5 million, according to The Rockefeller Group, a New York-based real estate company that develops, owns, and manages high-end properties. Rockefeller Group sold the building at 21500 Harvill Ave. to a joint venture …

An ARCO gas station and an AM/PM convenience store in Apple Valley have been sold for $5.6 million. The freestanding project is at Rancherias Road and U.S. Highway 18, an intersection that accommodates more than 36,500 vehicles on a typical day, according to a statement released by Progressive Real Estate …

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 …

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 …

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 …