IE Business Daily Business news for the Inland Empire.
Progressive Real Estate Partners in Rancho Cucamonga has helped negotiate the $13.5 million sale of a Los Angeles County shopping center.
The Shops at Walnut Hills Plaza covers 37,200 square feet at 18718–18766 Amar Road and is fully leased, according to a statement on Progressive’s website.
Progressive represented the seller, a Los Angeles developer whose name was not disclosed. Information about the buyer was not released.
Tenants include O’Reilly Auto Parts, Papa John’s Pizza, Native Fields Restaurant, Pediatric Dentistry, and Sky Nails.
“Despite a higher interest rate environment, we’re seeing demand for well-located neighborhood centers in supply-constrained, high-income trade areas,” said Roxy Klein, Progressive’s senior vice president of retail leasing investment sales, in the statement.
“Assets with service-oriented, internet-resistant tenant mixes are attracting both private and institutional capital.
