IE Business Daily Business news for the Inland Empire.
A 14-unit apartment complex in Riverside has been sold. The Tilton Avenue Apartments at 5748 Tilton Ave. sold for just under $2.1 million, CBRE said in a statement. CBRE represented the buyer and seller in the negotiations. Information about both parties was not released. The 6,882-square-foot property is in the …
Read More »Inland retail leasing appears to be slowing
The Inland Empire retail market may be slowing. Retail leasing in Riverside and San Bernardino counties is expected to reach 3.7 million square feet this year, according to Progressive Real Estate Partners in Rancho Cucamonga. If that forecast holds, it would be a 35 percent drop compared with the previous …
Read More »National, local mortgage delinquencies remain low
Four percent of all U.S. mortgages were in some state of delinquency – 30 days or more past due, including foreclosures – during June, a year-over-year decline of .3 percent, according to data released Tuesday. The national inventory foreclosure rate in June was .4 percent, virtually unchanged from June 2018 …
Read More »Large senior community in Riverside sells
Altavita Village in Riverside, the third-largest senior-living community in California, has been sold. The 589-unit project, which covers approximately 1.2 million square feet, sold for $58 million, according to a statement. Air Force Village West Inc. sold the property to Senior Living Riverside, LP, an affiliate of La Jolla-based Westmont Living. …
Read More »Beaumont fast-food restaurant sells
A Popeyes Louisiana Kitchen in Beaumont has been sold. The restaurant, at 501 E. 5th St., sold for $2.2 million, according to Progressive Real Estate Partners in Rancho Cucamonga, which helped negotiate the sale. Progressive represented the seller, a private investor in Riverside. Hipwell Real Estate in San Jose represented …
Read More »San Bernardino apartment complex sells for $37.4 million
A 197-unit multifamily complex in San Bernardino has been sold. The Vue Apartment Homes at 1660 W. Kendall Drive sold for $37.4 million, according to a statement released by CBRE. The seller was FPA Multifamily, a real estate investment firm in Irvine. Dalan Management, a New York real estate investment …
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