IE Business Daily Business news for the Inland Empire.
A neighborhood shopping center in Rialto with two tenants has been sold.
The property, at 630-660 W. Foothill Blvd., sold for $8.7 million, according to a statement.
Built last year, the property’s two tenants are ALDI grocery and WSS, formerly known as Warehouse Shoe Sale. Combined, the two retailers cover approximately 31,200 square feet on 2.4 acres at Foothill Boulevard and Cactus Avenue, an intersection with a daily traffic count of about 33,000 vehicles.
The seller was a Los Angeles-based private investment group, the buyer a private investor from the San Fernando Valley. The transaction was negotiated by Progressive Real Estate Partners in Rancho Cucamonga, a boutique brokerage that works mostly in the Inland Empire, and Hanley Investment Group Real Estate Advisors, a national brokerage. Both tenants have long-term leases, according to the statement.
