IE Business Daily Business news for the Inland Empire.
A retail center in Big Bear Lake has sold for $3.9 million.
The Village Mall at Big Bear, 40729 Village Drive, changed hands in an all-cash transaction between two private investors whose names were not released, according to Progressive Real Estate Partners in Rancho Cucamonga.
Progressive represented the seller, who is based in the Inland Empire. The buyer is based in the San Gabriel Valley.
The center, which is fully occupied, attracts nearly 100,000 visitors a day during peak season, enough to make it one of the most popular destinations in the Big Bear market. Its tenants include specialty independent boutiques, a sandwich, and bagel restaurant, a fitness facility, a beauty salon, and a music store.
The property sold within 90 days of being listed at 99 percent of the original asking price, according to Progressive.
Progressive was founded in 2008. It specializes in small to medium-sized retail sales and leases in Riverside and San Bernardino counties.
