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Claremont retail property fetches $4.1 million

Claremont retail property fetches $4.1 million

A fully-occupied retail building in Claremont has been sold for $4.1 million.

The structure, at 903-911 Foothill Blvd. covers 9,226 feet and is next door to Sprouts Farmers Market, according to Progressive Real Estate Partners in Rancho Cucamonga.

Progressive marketed the property and represented the seller, The Festival Companies, a full-service real estate firm with offices in Los Angeles and Honolulu.

Treeland Realty Group in Temple City represented the buyer, a private investor in the San Gabriel Valley whose name was not released.

Unleashed by Petco and Wild Birds Unlimited Nature Shop are located in the building. Both businesses renewed their leases recently.

Progressive, which specializes in small to medium-sized retail transactions, also arranged lease-up for the building’s third tenant, Almond Haus Cafe.

The average household income within one mile of the property is $128,600, and Claremont’s retail vacancy rate is 1.3 percent, well below Los Angeles County’s 5.2 percent, according to CoStar Group, a commercial real estate data service in Washington, D.C.

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