Despite the economic turmoil brought on by COVID-19, the Inland Empire industrial market continued to put up solid numbers during the second quarter. The region’s vacancy rate – 3.9 percent – was a 7.7 percent year-over-year drop, and its average lease rate of 73 cents per square foot was essentially …
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COVID-19 is starting to affect the local housing market if a recent quarterly report from one of Southern California’s most prominent homebuilders is any indication. Revenue, homes delivered and average selling price were all down substantially year-over-year for the quarter that ended May 31, according to Los Angeles-based KB Home. …
Read More »A free-standing All Star Car Wash and Castrol Oil and Lube Center in Corona has been sold for $5.7 million. The seller was a Japan-based private investor and the buyer an Orange-county private investor that also operates a successful professional mobile auto detailing business, according to a statement. Progressive Real …
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A single-tenant building occupied by the County of San Bernardino has been sold. The building, located at 265 East 4th St. in San Bernardino, has been sold for $13,450,000.The 50,082-square-foot two-story building was built in 2009 and sits on 4.62 acres at the southwest corner of 4th Street and Waterman Avenue. …
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Majestic Realty has donated an electric power lift to a community center that it will use to help its COVID-19 relief efforts. The Charles Meigs Community Center in Mead Valley, an unincorporated community near Riverside, has seen its food distribution efforts overwhelmed by the pandemic, according to the statement. “When …
Read More »An office building in Temecula has sold for $5.1 million. MIG Real Estate in Newport Beach sold the 35,258 square-foot structure to a private investor whose name was not released, according to CBRE. The building, at 1 Ridgeway Drive, was built in 2003 and is occupied by 15 tenants in …
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IE Business Daily Business news for the Inland Empire.
