IE Business Daily Business news for the Inland Empire.
A little more than 395,000 square feet of office space was absorbed in the Inland Empire during the first nine months of this year, according to data released this week. That activity was divided almost equally between the east and west end, according to CBRE’s third-quarter report on the Inland …
Read More »Shopping center sells for $26 million
A Riverside shopping center anchored by a Smart & Final has been sold. The property, at 5130-5290 Arlington Ave., attracted multiple offers and ultimately sold for $26.2 million, according to CBRE. The buyer was Tarski Group LLC, a Long Beach investment group. Heritage Plaza LLC and UAP-Heritage LLC, both developers …
Read More »IE industrial market stays strong
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 …
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