IE Business Daily Business news for the Inland Empire.
A 2,700-square-foot building in Ontario occupied by a Wienerschnitzel restaurant has been sold.
The free-standing building at 4605 Mills Circle was purchased by a private investor for $2.8 million, according to Progressive Real Estate Partners in Rancho Cucamonga.
The buyer was represented by Progressive and the seller, represented by Kotai Commercial, declined to be identified.
Built in 1998 and renovated nine years ago, the structure is within walking distance of Ontario Mills, which attracts more than 28 million patrons a year.
“This is exactly the type of asset we seek out for our clients,” said Greg Bedell, senior vice president and managing director with Progressive, in a statement. “A well-located property with a creditworthy operator, below-market rent, and a clear path to upside over time. The Inland Empire retail market continues to attract significant capital and properties.”
