IE Business Daily Business news for the Inland Empire.
A Sonic Drive-in restaurant in Riverside has been sold.
The restaurant, at 9505 Magnolia Ave., sold for $2.5 million, according to a statement released Tuesday by Hanley Investment Group Real Estate Advisors and Lee & Associates, both of which negotiated the sale.
Both of those brokerages represented the seller, Evergreen – Magnolia & Van Buren NWC LLC, an subsidiary of Evergreen Devco Inc. in Glendale. The buyer was a private investor from Los Angeles whose name was not released.
The 3,275-square-foot restaurant, one of top-performing Sonics restaurants in the country, opened last November at the corner of Magnolia and Van Buren avenues. An estimated 75,000 vehicles pass through that intersection every day, making it one of the busiest intersections in Riverside, according to the statement.
