IE Business Daily Business news for the Inland Empire.
An industrial building in Riverside has been sold. The structure, at 7145 Arlington Ave., sold recently for an estimated $17.8 million, according to a statement. CBRE Group Inc. represented the seller, The Abbey Company, a privately held real estate investment and management firm in Garden Grove. The buyer, whose name …
Read More »Office market healthier than previously thought
A report says the Inland Empire has absorbed more space than Los Angeles and Orange County since the recession ended in 2010. While it’s not a full-fledged recovery, it’s at least a piece of good news. The Inland Empire office market might be in better shape than previously reported. No, …
Read More »Major housing development sold
Two major homebuilders have purchased parcels in Terramor, a master-planned community in unincorporated Riverside County. The lots, part of the development’s first phase, were purchased by KB Home in Los Angeles and CalAtlantic Homes in Arlington, Va., according to a statement released today. KB Home will build two neighborhoods that …
Read More »Tenant sough for fulfillment center
Colliers International and Lee & Associates Commercial Real Estate Services are marketing a fulfillment center in Rialto that could ultimately employ between 200 and 500 people. The I-210 Logistics Center II, which was completed last year, covers nearly 760,000 square feet and was part of a $2 billion real estate …
Read More »Major housing development underway in Corona
Grading has begun on a major housing development in Corona. Bedford will consist of 1,620 homes southwest of the Cajalco Road and Interstate 15 interchange, on the site for a former lemon grove, according to a statement released by the project’s developer, The New Home Company in Aliso Viejo. The …
Read More »Multifamily rents are up locally, nationally
The U.S. multifamily market improved slightly in March. Average monthly rents rose $6 during that time to $1,312, according to data released by Yardi Matrix in Santa Barbara. That data, based on a survey of 121 major metropolitan markets, found that rents were 2.7 percent higher nationwide in March than …
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