IE Business Daily Business news for the Inland Empire.
A medical/commercial complex in Hemet has been sold for $5.5 million.
Courtyard Medical & Professional Center at 910-960 N. State. St. was purchased by an out-of-country investor whose name was not released, Progressive Real Estate Partners in Rancho Cucamonga announced today.
The seller was a Newport Beach investor who also wished to remain anonymous. Progressive Real Estate represented the seller and the buyer was represented by Henry Liu of CBD Investments, Inc.
Built in 1981, the center covers nearly 40,000 square feet and is next to a Riverside County courthouse. It’s fully occupied and has 14 service-oriented tenants, including a law office, paralegal and DNA collections office.
The center is at the intersection of State Street and Fruitvale Avenue, which accommodates more than 20,400 vehicles a day. Thirteen qualified offers were made on the project, a sign that investors are willing to get into the Inland Empire’s second and third-tier markets, according to Progressive Real Estate.
