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Retail property fetches nearly $4 million
A retail building in Fontana has been sold.
The 9,000-square-foot property at Interstate 15 and Baseline Avenue sold for its list price of $3.8 million, according to a statement released by Hanley Investment Group Real Estate Advisors in Corona Del Mar.
The building, which is fully occupied, includes Rosa Maria’s Mexican Restaurant, a hair and beauty salon, nail salon, barbershop, and convenience store. Nearby retailers include Starbucks, Jack in the Box, Denny’s, KinderCare, Vons, Wells Fargo, AutoZone, Wendy’s and Panda Express.
Hanley Investment Group represented the seller, Pacific Development Group of Newport Beach, one of the largest shopping center developers in California. GD Commercial Real Estate in Milpitas represented the buyer, a private investor from Northern California whose name was not released.
The building was constructed in 2002 and sits on approximately one-half acre. Most of its tenants have been there for at least 15 years, according to the statement.