Real Estate

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 …

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, …

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 …

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 …

The Inland Empire office market performed well during the third quarter, with lease rates rising 5.2 percent year-over-year. Asking lease rates for Class A office space in the two-county region was $1.89 per square foot, the highest rate since 2007 before the Great Recession, according to Newmark, the commercial real …