IE Business Daily Business news for the Inland Empire.
A retail center next to the 91 Freeway in Corona has been sold.
The Corona Freeway Center at 2410 Wardlow Road changed hands for $11 million, according to a statement released by Progressive Real Estate Partners in Rancho Cucamonga.
PRES Cos., a commercial real estate investment and development company in Irvine, bought the property for cash. The seller, a private investor in Orange County whose name was not released, was represented by Progressive.
The project, which was built in 1991, covers nearly 68,000 square feet and was recently upgraded. It draws visitors from northern Orange County and western Riverside County, and the median household income near the property is $106,000.
Tenants include Express Scripts, Jenson USA Bicycles and LA Carpet & Flooring. Approximately 263,500 vehicles pass by site every day.
Progressive Real Estate is a commercial real estate brokerage that leases and sells retail properties in Riverside and San Bernardino counties, according to the statement.
