IE Business Daily Business news for the Inland Empire.
The Inland Empire had nearly 558 million square feet industrial space operating in the fourth quarter of last year, up from 536 million square feet one year earlier, according to data released Wednesday. Another 20.7 million square feet was under construction, Newmark Knight Frank reported in its fourth quarter survey …
Read More »Old Town Temecula property sells
A mixed-use property in Old Town Temecula has been sold. Cameron Historical Building, a combination of 24 affordable-housing units and three ground-floor retail units, sold for $4.8 million, according to a statement released by Avison Young. The seller was Cameron Properties Inc. in Covina, which was represented by Avison Young’s …
Read More »Inland mortgage delinquencies drop slightly
Four point two percent of Inland Empire mortgages were delinquent in October by at least 30 days, according to data released Tuesday. That data, which included properties in foreclosure, was a year-over-year drop of 0.6 percent, Irvine-based CoreLogic reported. Mortgages in serious delinquency – meaning late by 90 days or …
Read More »Inland Empire retail market should stay above water in 2018
Space should be absorbed and construction should continue during the next 12 months, according to several people familiar with the market. The Inland Empire retail market will likely perform well during 2018, continuing the slow but steady improvement it has undergone since the recession ended. That’s the good news. The …
Read More »Residential grand opening scheduled
Foremost Cos., a residential land developer in Newport Beach, is scheduled to host a grand opening today at a master-planned community it’s developing in Temescal Valley. Sterling, which will be for residents at least 55 years old, will be the fifth neighborhood at Terramor, a 16-neighborhood project that will include …
Read More »IE apartment rents among fastest growing in U.S.
The Inland Empire experienced the sixth-largest growth in apartment rents among major U.S. metropolitan markets during 2017, a report released Wednesday stated. Rents for new residents in Riverside and San Bernardino counties rose 4.7 percent last year, according to RealPage Inc., a real estate software and data analytics company based …
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