IE Business Daily Business news for the Inland Empire.
A Newport Beach real estate investment and development company has purchased a 75-unit apartment complex in Ontario. Waterford Property Co. paid $21.5 million for Hallmark at Mission at 1201 W. Mission Blvd., according to a statement. A specialist in land development and entitlements as well as acquisitions and repositioning of …
Read More »Ontario luxury apartment sells for record price
A 75-unit luxury apartment complex in Ontario has been sold, reportedly for a record price. Hallmark at Mission changed hands for $21.5 million, believed to be the most ever paid for a multifamily development in Ontario, according to a statement. The Mogharebi Group, which brokers multifamily properties throughout California, helped …
Read More »Industrial project planned for Perris
A real estate investment trust in Chicago has purchased three vacant parcels in Perris, where it plans to build an industrial project. First Industrial Realty Trust Inc. will develop a 315,000-square-foot warehouse-distribution project on the 16.2-acre site, according to a statement released by Avison Young, the Toronto-based commercial real estate …
Read More »Local, national foreclosures remain low
Three point eight percent of all mortgages nationwide were in some stage of delinquency in July, according to data released Tuesday. That was a 0.3 percent decline year over year, Irvine-based CoreLogic announced in its monthly Loan Performance Insights Reports. “Delinquency” is defined as 30 days or more past due, …
Read More »Inland brokerage negotiates sale Arizona preschool
Progressive Real Estate Partners in Rancho Cucamonga has completed the sale of a preschool in Arizona. Sunrise Preschool in Goodyear, which has been in business for more than 20 years, recently sold for $3.3 million, according to a statement. Brad Umansky, president of Progressive Real Estate, and Mike Lin, the …
Read More »Office building sells for $11.3 million
A Desert Hot Springs office building leased by Riverside County has been sold for $11.3 million. Pierson Plaza, a 38,000-square-foot structure at 65753 Pierson Blvd., was purchased in a 1031 exchange by a Palm Springs real estate investment company whose name was not released, CBRE announced Monday. The seller was …
Read More »