IE Business Daily Business news for the Inland Empire.
A multi-tenant industrial portfolio in Redlands and Riverside has been sold. Combined, the properties total more than 212,000 square feet and sold for just under $16 million, according to CBRE Ontario, which arranged financing. The transaction was announced Tuesday. Davis Partners, an onsite property management company based in Newport Beach, …
Read More »Self-storage facility changes hands
A self-storage facility in Rialto has been sold for $4 million. Rialto Self Storage covers nearly 36,925 square feet at 2850 W. Foothill Blvd., according to CBRE Ontario, which helped negotiate the transaction. The facility, which has 374 self-storage units along with space for boats and recreational vehicles, is 97 …
Read More »Inland office market holds steady
It was business as usual for the Inland Empire office market during the first three months of 2018: steady growth, but nothing spectacular. Vacancy was 9.5 percent, down 1.2 percent from the first quarter of 2017, according to Newmark Knight Frank’s first quarter office report for Riverside and San Bernardino …
Read More »Apartment rents keep rising
Apartment rental rates nationwide rose in March, the first increase since last summer, according to data released Tuesday. The average rent last month was $1,371, a $4 increase from February, Santa Barbara-based Yardi Matrix reported in it monthly analysis of the U.S. multifamily market. Year-over-year, rents grew 2.5 percent but …
Read More »National home prices rise
Home prices nationwide rose both year-over-year and month-over-month in February, according to data released Tuesday. Compared with February 2017, home price throughout the United States were up 6.7 percent, while prices rose one percent between January and February, Irvine-based CoreLogic reported in its monthly home price index. CoreLogic predicts that …
Read More »Perris retail properties sell
Six retail pads at Perris Marketplace, a 220,000-square-foot shopping center anchored by a Walmart supercenter, have been sold. All six properties – three multi-tenant pad buildings and three single-tenant fast-food pad restaurants – were fully occupied when the sale was completed, according to Hanley Investment Group Real Esate Advisors, which …
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