IE Business Daily Business news for the Inland Empire.
A Corona building formerly occupied by Food 4 Less has been sold.
The structure at 109 N. McKinley St. sold for $4.7 million, Progressive Real Estate Partners in Rancho Cucamonga announced in a statement Wednesday.
The buyer, Expert Hardwood Flooring, plans to use the 55,000-square-foot building as a wholesale distribution center for their commercial clients and a retail showroom.
Progressive marketed the property and represented the seller, a private investment group in Los Angeles. The buyer, who also wished to remain anonymous, was represented by Lee & Associates Ontario.
Built in 1989, the building at Magnolia and McKinley avenues is less than half a mile from the 91 Freeway. More than 40,000 vehicles pass through the intersection on a typical day, according to the statement.
“Ultimately, this was a perfect option for Expert Hardware Flooring to relocate and maintain their Inland Empire presence,” said Greg Bedell, Progressive’s vice president of investment sales, in the statement.
