IE Business Daily Business news for the Inland Empire.
A building in Montclair formerly occupied by a Red Lobster restaurant has been sold.
The 6,200-square-foot structure at 9345 Monte Vista Ave. sold for $2.5 million, according to Progressive Real Estate Partners in Rancho Cucamonga.
The seller, represented by Progressive, is a private investor in the San Gabriel Valley. The buyer is a local investor whose family owns a chain of sit-down Mexican food restaurants.
Both parties wished to remain anonymous.
Red Lobster left the building last year. The new owner plans to renovate the building and open a sit-down restaurant there, but plans for that project have not been announced.
Built in 1981, the building is near Montclair Place. Its tenants include Macy’s, JC Penney, Barnes & Noble, and Canyon Theater, an AMC 12-screen complex.
Nearby retailers include Esporta Fitness, Black Angus, Lazy Dog, Olive Garden, Chili’s, and Buffalo Wild Wings.
That Red Lobster had nasty food and horrible presentation; that’s why it closed and poor waiting staff.