IE Business Daily Business news for the Inland Empire.
An 18,000-square-foot building in Norco occupied by a Grocery Outlet has been sold.
The property, at 1428 Sixth St, was exchanged for $6 million, according to a statement released by SRS Real Estate Partners’ National Net Lease Group.
SRS Real Estate represented the seller, a local developer whose name was not released. The buyer, a family partnership that also wished to remain anonymous, was represented by Trust Real Estate Services.
Grocery Outlet opened in May. It is the anchor tenant to the new Norco Gateway Shopping Center, which has a Taco Bell and approximately 6,000 square feet of space for more retail.
Nearby retailers include Rite Aid, Stater Bros, Boot Barn, 99 Cents Store, and Dollar Tree.
More than 284,000 residents live within a five-mile radius of the site, which is visible from Interstate 15, according to the statement.
