IE Business Daily Business news for the Inland Empire.
A portion of an Apple Valley shopping mall has been sold.
Pacwest Management in Los Angeles bought four retail buildings at Rancherias Plaza for $3.1 million from Huntington Beach Partnership, according to a statement.
The sale was announced Wednesday. The property, which is about 40 percent occupied, includes Domino’s Pizza, GNC, Boost Mobile and H&R Block, among other tenants.
Pacwest hopes to buy more of the mall in the future should it be placed on the market, said David Wick, an associate with Marcus & Millichap Ontario who represented Pacwest Management in the negotiations.
The company, which buys, sells and manages shopping malls, is currently working on bringing a restaurant to the mall, Wick said.
Rancherias Plaza sits on nearly four acres on US Highway 18 between Rancherias and Bass Hill roads. It is across the street from a Walmart and next to Apple Valley Commons, a regional shopping mall developed recently by Lewis Retail Centers and anchored by a Super Target, Ross Dress for Less and a Dollar Tree, according to the statement.
