IE Business Daily Business news for the Inland Empire.
The Inland Empire’s industrial market continued to soar during the third quarter, with lease rates on the rise and vacancy trending down, according to a report. Lease rates for industrial space in Riverside and San Bernardino counties in that three-month period averaged 59 cents per square foot, up from 53 …
Read More »Berkshire Hathaway residential division opens Beaumont office
Berkshire Hathaway HomeServices Perrie Mundy Realty Group has opened an office in Beaumont. The facility, at 1484 W. Second St., will operate as Berkshire Hathaway HomeServices California Realty, the same name it uses at its Riverside and Moreno Valley offices, according to a statement. The real estate brokerage’s Redlands headquarters …
Read More »Logistics building sold, will undergo expansion
An industrial building in Temecula has been sold. The 25,182-square-foot facility at 43223 Business Park Drive, which is vacant, sold for $2.6 million, according to a statement. Avison Young, a global commercial real estate firm headquartered in Toronto, represented both parties in the transaction. The buyer was Forum Capital LLC, …
Read More »State housing slowdown predicted
California’s housing market is expected to weaken next year, the result of high prices that will keep buying a home out of reach for many people, according to a report. Home sales are also expected to decline next year for the first time in four years, the California Association of …
Read More »Foreclosures stayed down in July
Four point one percent of all U.S. mortgages were in some state of delinquency in July, a slight year-over-year drop, according to data. The national foreclosure inventory rate of 0.5 percent was unchanged from the three previous months and virtually the same as one year earlier, Irvine-based CoreLogic reported in …
Read More »Affordable apartment complex planned in Ontario
A groundbreaking is scheduled to be held today on a 101-unit affordable apartment complex in Ontario. The Vista Verde Apartments at East Nocta Street and North Virginia Avenue will help anchor a modern urban village Ontario is developing in the heart of downtown, according to a statement. The project is …
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