A Mexican food restaurant chain has purchased a fully-equipped restaurant in Moreno Valley.
Kalaveras Mexican Cuisine & Bar bought a former Woody’s Restaurant for $2.7 million, according to Progressive Real Estate Partners in Rancho Cucamonga.
The restaurant, at 23060 Alessandro Blvd., covers 8,900 square feet and has been vacant since December. Kalaveras, which operates 13 locations in Southern California, plans to make minor alterations to the building before opening later this year.
Progressive marketed the property and represented the seller, an Inland Empire private investor whose name was not released. Kalaveras was represented by Saddleback Realty & Property Management in Corona.
The restaurant is at Frederick Street and Alessandro Boulevard near Interstate 215 and the 60 Freeway. It handles nearly 40,000 vehicles on a typical day.
“The demand for second generation restaurant space has been strong and especially in prime locations like Moreno Valley,” said Albert Lopez, senior retail specialist with Progressive and a member of the negotiating team, in the statement.