IE Business Daily Business news for the Inland Empire.
A Fontana retail center with no anchor tenants has sold for $2.8 million.
Shops at Fontana Square was sold by a private investor in Arizona to another private investor from Southern California, according to Progressive Real Estate Partners in Rancho Cucamonga.
Progressive represented the seller and Dolly Realty-Property Management in San Marino represented the buyer. Further information about both parties was not released.
The property, at 17218 Foothill Blvd., covers nearly 7,200 square feet and is 100 percent occupied. It’s in one of the city’s busiest retail corridors and is across the street from a Walmart-anchored shopping center.
Built in 2008, Shops at Fontana Square has seven “internet resistant” tenants, none of which have required rent assistance during the pandemic. More than 191,000 residents live within three miles of the shopping center, with an average household income of $76,650, according to Progressive.
