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Retail building sells for $7.4 million

A 22,000-square-foot retail building in the Terra Vista Town Center in Rancho Cucamonga has been sold.

The structure at 10582 Foothill Blvd. was sold for $7.4 million by a private investor in Michigan to a private investor in the San Gabriel Valley, according to Progressive Real Estate Partners in Rancho Cucamonga.

Both parties wished to remain anonymous.

Progressive represented the seller.  GE Property Management Inc. in Alhambra represented the buyer. The building, between Target and Hobby Lobby, has nine tenants and is fully occupied.

Terra Vista Town Center is at the intersection of Foothill Boulevard and Haven Avenue, which accommodates about 67,300 vehicles a day. Tenants in the 645,000-square-foot facility include Ross, Old Navy, Michaels, Home Goods, Big 5 Sporting Goods, and Five Below.

More than 234,000 people – average yearly income of nearly $111,000 – live within a 10-minute drive of the town center, according to Progressive.

 

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