IE Business Daily Business news for the Inland Empire.
Cushman & Wakefield has completed the sale of a three-acre site in Riverside that will be home to a self-storage business. The property, on Palm Avenue near downtown, has been approved for 77,000 square feet of Class A storage space, according to a statement. The buyer was Frontera Real Estate, …
Read More »Office building sells for $11.8 million
Rincon Corporate Plaza, an office building in Corona, has been sold. The 58,850-square-foot structure at 355 E. Rincon St. sold for $11.8, CBRE announced in a statement. The seller was Providence Capital Group in San Diego. The buyer was ZHOPE LLC, a private investment group Corona. CBRE represented both parties …
Read More »Redlands apartment sells for just under $45 million
A 198-unit apartment complex in Redlands has been sold for nearly $45 million. Citrus Grove Apartment Homes consists of 24 buildings that cover 169,000 square feet on 11.7 acres, according to a statement. The project, next to the University of Redlands at 1230 E. Lugonia Ave., sits on 11.7 acres. …
Read More »National, local mortgage rates remain flat
Three point seven percent of all mortgages in the United States were in some state of delinquency in August, including foreclosures, a modest year-over-year decline, according to data released Tuesday. The foreclosure inventory rate – which measures the number of mortgages in some phase of foreclosure – was 0.4 percent, …
Read More »New Rialto shopping center changes hands
A neighborhood shopping center in Rialto with two tenants has been sold. The property, at 630-660 W. Foothill Blvd., sold for $8.7 million, according to a statement. Built last year, the property’s two tenants are ALDI grocery and WSS, formerly known as Warehouse Shoe Sale. Combined, the two retailers cover …
Read More »Industrial building sells for $28 million
A fully-occupied industrial building in Temecula has been sold for $28 million. The 224,350-square-foot structure at 41995 Zevo Drive was purchased by Karney Properties in Santa Monica, according to a statement released by Avison Young, which negotiated the transaction. The seller was Zevo Drive Holdings Inc., an owner-operator that has …
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