Real Estate

The District at Grand Terrace, a 352-unit apartment complex in Colton has been sold for $88 million. Tower 16 Capital Partners in San Diego, which spent two years and $2.6 million renovating the property, was the seller, according to statement released today. The buyer was MG Partners, a San Diego-based …

Harvill Business Center, a logistics facility in Perris, has been sold. The 423,665-square-foot operation at 20123 Harvill Ave. was sold to Black Creek Group, a Denver-based real estate investment management firm, according to a statement released today. Core5 Industrial Partners in Atlanta, a developer of industrial properties, was the seller. …

A Rialto building occupied by a drive-thru Walgreens has been sold. The 14,410-square foot structure at 918 E. Foothill Blvd. sold for $8.7 million to a private investor, CBRE announced today. The sale price worked out to $605 per square foot. The final price was the most paid for a …

U.S. home prices reached their highest annual gain in nearly 15 years in February, as demand continues to overwhelm supply. Nationwide, the price of a single-family home rose 10.4 percent last month compared with February 2020, the largest year-over-year increase since April 2006, Irvine-based CoreLogic reported today. Home prices are …

The construction of four hotels in Palm Springs has languished, leaving the city to threaten each developer with legal action if that doesn’t change. All four properties are hurting nearby businesses, according to city officials.   Palm Springs already has more than its share of hotels, and it’s trying to …

The Inland Empire had more large industrial projects in 2020 than any other major North American market, according to CBRE. Approximately 42.5 million square feet of warehouse-distribution projects at least 200,000 square feet were completed in Riverside and San Bernardino Counties last year, CBRE stated in a report declared today. …