IE Business Daily Business news for the Inland Empire.
Progressive Real Estate Partners in Rancho Cucamonga has negotiated the sale of a San Gabriel Valley shopping center.
The retail strip center at 532-540 N. Azusa Ave. in West Covina sold for $2.4 million in an all-cash transaction, according to a statement posted on Progressive’s website.
Progressive represented the seller who was a private investor in San Bernardino. The buyer is a West Covina private investor who owns similar retail properties throughout Southern California.
Azusa Avenue is major retail corridor in that part of the San Gabriel Valley.
Tenants at 7,760-square-foot shopping center include a nail salon, hair salon, martial arts school, massage studio and Friar Tux, the tuxedo store chain. The facility is fully occupied, and more than 190,000 people with an average household income of $117,131 live with a five-mile radius of the site.
