IE Business Daily Business news for the Inland Empire.
A 17,000-square foot shopping center in Rancho Cucamonga has been sold.
Allmark Plaza, an unanchored neighborhood facility at 10060-10080 Arrow Route, was purchased for $6 million by an Orange County investor, according to Progressive Real Estate Partners in Rancho Cucamonga.
Progressive Real Estate represented the buyer, who declined to be identified. The seller, Allmark Property Management, represented its itself.
Built in 1986, Allmark Plaza’s tenants include pizza delivery company, diet center, mini-mart, donut shop, day spa, dry cleaners and a dental office. It is fully leased.
“The buyer was attracted to Allmark Plaza because it checked the boxes that matter most in today’s market,” said Lance Mordachini, vice president of investment sales, in a statement. “We viewed this a compelling opportunity to acquire a well-located, fully occupied retail asset with durable long-term fundamentals.”
