IE Business Daily Business news for the Inland Empire.
A Grocery Outlet in unincorporated San Bernardino County has been sold for $6 million.
A private investor in San Diego sold the store and the parcel it occupies to a Los Angeles investor, according to Hanley investment Group.
Hanley Investment represented the seller. Both buyer and seller wished to remain anonymous.
The 24,000-square-foot building, which recently underwent a major remodeling, sits on 1.5 acres at 27315 N. Bay Road. In Blue Jay, a small community near Lake Arrowhead.
Besides being the only Grocery Outlet within a 25-mile radius, it’s one of only three supermarkets in a 20-mile trade area, said Bill Asher, executive vice president with Hanley Investment in Corona Del Mar.
“The buyer acquired great real estate, ideally situated at one of the main entrances into Lake Arrowhead, and a seasoned store that has been open for over a year and established itself in the community,” Asher said in a statement.
Based in Emeryville Grocery Outlet operate 563 stores in 16 states, according to the statement.
