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Tag Archives: Real Estate

Report: Buying a house remains out of reach for most

affordable housing crisis chino

Only 17 percent of California households could afford a median-priced home – $790,020 – during the last quarter of 2022, according to a study released this week. That was an 18 percent drop from the previous month and a 25 percent decline from the last three months of 2021, the …

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Office market holds steady

The Inland Empire office market during the last three months of 2022, held steady with few move-outs and much leasing. The two-county region recorded 77,041 square feet of positive net absorption and a vacancy rate of 8.6 percent, a quarter-over-quarter gain and decline, respectively, according to CBRE. While those two …

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Logistics facility sells for $329 million

building sold

A 1.8-million-square-foot warehouse-distribution center in an unincorporated community in Riverside County has been sold for a reported $329 million. Shopoff Realty Investments in Irvine and Artemis Real Estate Partners in Washington, D.C., sold Cherry Valley Logistics Center, to Toronto-based Brookfield Asset Management, according to a statement posted on Feb. 6 …

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Norco service sells for nearly $12 million

Norco service sells for nearly $12 million

A Chevron service station, convenience store, and car wash in Norco have been sold for $11.9 million. The 2.8-acre development at 996 Mountain Ave. sold for its full asking price in a transaction that included all three structures as well as the property, according to Progressive Real Estate Partners in …

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NFI renews lease

Third-party logistics company lands in Fontana

NFI Industries, a third-party logistics company, has renewed its lease at the Perris Distribution Center. Newmark Ontario represented the landlord in the negotiations, Los Angeles-based Ares Management, according to a statement. Terms of the agreement were not disclosed. NFI occupies an 864,000-square-foot building at Perris Distribution Center, a two-story building …

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Industrial building slated for Rancho Cucamonga

Construction has begun on Arrow Business Center, a 49,291-square-foot industrial building in Rancho Cucamonga. The Class-A warehouse distribution facility, which is being developed at 11770 Arrow Route, is expected to be ready for occupancy in September, according to a statement. The project is less than a mile and a half¬†from …

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