IE Business Daily Business news for the Inland Empire.
Progressive Real Estate Partners has negotiated the sale of a shopping center in Whittier.
The Rancho Cucamonga brokerage, which specializes in small to medium-sized real estate transactions, marketed La Pico Plaza and represented the seller, an Orange County investor whose name was not released, according to a statement.
Desert Capital Venture in Portland, Ore. bought the fully-occupied neighborhood shopping center for $5.8 million. The property at 9150 Painter Ave. is anchored by a Circle K.
Progressive received 10 offers on the property, which is at Painter Avenue and Mulberry Drive, across the street from Whittier Union High School.
Nearly 84,000 vehicles pass through that intersection on a typical day. An estimated 186,000 people with an average household income more than $95,000 a year live within three miles of the shopping center, according to the statement.
