The U.S. Railroad Retirement Board has announced that " The Centers for Medicare and Medicaid Services has announced that the standard monthly Part B premium will be $110.50 in 2010," according to a news release. "However, most Medicare beneficiaries will not see an increase in their monthly Part B premiums in 2010 because of a 'hold-harmless' provision in current law." Railroad retirement and Medicare beneficiaries will receive notice from the Social Security Administration about other income-related premiums by December.
Riverside-based Altura Credit Union has reported "a significant improvement in its bottom line results compared to the same period last year" for the third quarter, according to a news release. Net income totalled $1.8 million. "The results for the third quarter suggest economic conditions in the region are beginning to show improvement," the news release said. Altura was "well capitalized" by federal regulatory standards as of Sept. 30.
The Employers Group is presenting its "Workplace Employment Law Updates" event on Nov. 13 from 8 a.m. to 4:30 p.m. at the Ontario Convention Center. The cost for members is $225, and for nonmembers, $325. For more information, visit: www.employersgroup.com/WELU.shtml or e-mail training@employersgroup.com. Or call (213) 765-3967. Speakers from the Disney Institute, Richard Simmons and employment law attorneys will show businesses the latest workplace trends and legislation facing employers in 2010, including "legal updates, best practices and need-to-know business knowledge," according to a news release.
The Inland Empire's industrial vacancy rate edged up during the third quarter of 2009 to 15.4 percent, compared with 11.9 percent in the year-ago period, according to a news release by Colliers International, a real estate services firm. On a national level, "the industrial vacancy rate edged up ... hitting 10.5 percent. This represents a new high for the decade and marks the eighth consecutive quarter of increasing vacancy."
The Ultimate Speed Networking Event was held Tuesday at Citrus City Grille at Riverside Plaza, where Kat Shepherd, the CEO of TheUltimateProfessional.com , hosted speed networking sessions. Participants networked face to face before alternating their seating arrangements and paring up with another business owner nearby in the same room, sharing business cards and information about their business.
Sares-Regis Group and institutional investors advised by J.P. Morgan Asset Management have acquired a 390,000-square-foot warehouse and distribution building in Redlands from BlackRock for $11.5 million in the first purchase made by a new strategic alliance of the buyers "that is targeting high-quality industrial buildings throughout Southern California that offer value-add possibilities via leasing and management," according to a news release. The venture's new asset is at 9425 Nevada St. in a built-out master-planned development called Pioneer Industrial Center. The transaction was brokered by the Cushman & Wakefield team of Jeffrey Cole, Chuck Belden and Ed Hernandez from the brokerage firm's Orange County office, who represented both parties in the sale.
Grubb and Ellis Co.' s Ontario office recently completed the following transactions:
● Mary Meeks bought an industrial building at 422 Smith Ave., Corona, from CTC Properties LLC. Randy Lockhart and Steve Sprenger represented the seller in the transaction. Tom McCrystal of Point Enterprises Inc. and Eric Fiske of Daum Commercial Real Estate Services represented the buyer.
● Covington and Crowe LLP subleased office space at Empire Towers IV at 3800 Concours, from Cushman and Wakefield of California Inc. John Daciolas of Grubb and Ellis represented the lessee in the transaction. Marc Selznick of Unire Real Estate Group represented the lessor.
● 2020 Communications Inc. leased 1,524 square feet of office space at Civic Center Plaza II at 10565 Civic Center Drive, Rancho Cucamonga, from the Glover Family LLC. John Daciolas represented the lessee. Tony Phu of Colliers Seeley International represented the lessor.
● Taicon Corp. leased industrial space at Oaks Business Park at 13831 Oaks Ave., Chino, from William I. Feldhorn Trust. Mitch Fisher represented the lessor in the transaction. Agnes Highley of Lee and Associates represented the lessee.
● Mary Meeks bought an industrial building at 422 Smith Ave., Corona, from CTC Properties LLC. Randy Lockhart and Steve Sprenger represented the seller in the transaction. Tom McCrystal of Point Enterprises Inc. and Eric Fiske of Daum Commercial Real Estate Services represented the buyer.
● Covington and Crowe LLP subleased office space at Empire Towers IV at 3800 Concours, from Cushman and Wakefield of California Inc. John Daciolas of Grubb and Ellis represented the lessee in the transaction. Marc Selznick of Unire Real Estate Group represented the lessor.
● 2020 Communications Inc. leased 1,524 square feet of office space at Civic Center Plaza II at 10565 Civic Center Drive, Rancho Cucamonga, from the Glover Family LLC. John Daciolas represented the lessee. Tony Phu of Colliers Seeley International represented the lessor.
● Taicon Corp. leased industrial space at Oaks Business Park at 13831 Oaks Ave., Chino, from William I. Feldhorn Trust. Mitch Fisher represented the lessor in the transaction. Agnes Highley of Lee and Associates represented the lessee.
The Colton-Redlands-Yucaipa ROP will be honored in the 30th annual Golden Bell Awards program of the California School Boards Association. The award was won in the Partnerships and Collaboratives category for Operation More Opportunities Now Exist for You (MONEY), under the direction of Lynnae Pattison. MONEY, which is funded by federal grants, was authorized by the county's Workforce Investment Board. "The two-year program increases employment and earnings by developing work/career potential and improves long-term employability by enhancing academic and occupational learning," according to a news release. Information: (909) 793-3115; www.cryrop.org
The Inland Empire Economic Partnership will hold its inaugural energy summit, "Energy, Economics and the Environment: Creating a Sustainable Future," from 8 a.m. to 1 p.m. Friday at the DoubleTree Hotel, 222 N. Vineyard Ave., Ontario. The keynote speaker will be Mary Nichols, chairwoman of the California Air Resources Board. The event's sponsors are Southern California Gas Company and Southern California Edison, as well as San Bernardino County's Economic Development Agency. Cost: $50. Sponsorships and exhibit space still available. Information: Cari Mendez, (951) 779-6700, ext. 239
Mecum Loma Linda LLC has purchased a fully leased medical office at 25865 Barton Road in Loma Linda for $3.24 million from Meridian Property Co., according to costar.com
The building is part of the Loma Linda Professional Center, at the southeast corner of Barton Road and Mountain View Avenue. Loma Linda University Medical Center has a 10-year triple-net lease on the subject property. Drew Wetherholt of Marcus and Millichap represented the seller. David Kaufman, also with Marcus and Millichap, represented the buyer.
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