IE Business Daily Business news for the Inland Empire.
A Temecula company that manufactures suspension seats for off-road vehicles will move to a larger building within the city. Bestop PRP LLC has signed a five-year lease on 43,171-square-feet of industrial property in the 43300 block of Business Park Drive, according to a statement. The landlord is a private investment …
Read More »Housing market continues to slide
The slowing of the Southern California housing market continued in October, as sales of condominiums and single-family homes fell 7.5 percent year-over-year. Total sales were 19,193 last month, the weakest October since 2011, when 16,829 housing units changed hands, Irvine-based CoreLogic reported. Sales did rise 10.3 percent between September and …
Read More »Local group buys industrial building
A 50,200-square-foot industrial building in Perris has been sold. The structure, at 150 W. Walnut St., changed hands for $5.7 million, according to a statement released by Avison Young, the global commercial real estate firm. Avison Young represented the seller, an owner-occupant identified as WWW 150 Perris LLC. The buyer, …
Read More »Logistics property sells for record price
A Rancho Cucamonga warehouse has been sold, reportedly for the highest price paid this year for an Inland Empire industrial property. The 486,600-square foot building at 9050 Hermosa Ave. sold for nearly $70 million, or $147 per square foot, according to a statement. The buyer was Deutsche Wealth Services, the …
Read More »Cathedral City apartment complex fetches record price
Presidio Park, a 45-unit apartment community in Cathedral City, has sold for a record price. The property at 69150 Gerald Ford Drive changed hands for $7 million, or $155,556 per unit, according to a statement. The buyer was a private investment group in Riverside, the seller a family partnership in …
Read More »High Desert commercial, property sells
More than 15 acres of prime commercial land in Hesperia has been sold. The four parcels – three at Interstate 15 and Ranchero Road and one at Tamarisk Avenue and Ranchero Road – changed hands for a combined $4.3 million, Progressive Real Estate Partners said in a statement. The first …
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