IE Business Daily Business news for the Inland Empire.
A 1.7-acre piece of vacant land in Rancho Cucamonga that is zoned for mixed-use development has been sold for $3 million.
A Los Angeles County investor whose name was not released bought the parcel at the northwest corner of Foothill Boulevard and Etiwanda Avenue in an all-cash transaction, according to Progressive Real Estate Partners in Rancho Cucamonga.
The seller, also a Los Angeles County investor, also wished to remain anonymous.
Interstate 15 is about one-half mile from the property. The Foothill-Etiwanda intersection accommodates more than 40,000 vehicles on a typical day.
The buyer owns vacant land immediately north of the property and plans to develop a mixed-use project there that would cover both sites. Details of that project, including a construction timeline, have not been released.
