IE Business Daily Business news for the Inland Empire.
A Rialto building occupied by a drive-thru Walgreens has been sold.
The 14,410-square foot structure at 918 E. Foothill Blvd. sold for $8.7 million to a private investor, CBRE announced today.
The sale price worked out to $605 per square foot. The final price was the most paid for a Walgreens building in San Bernardino County during the last 10 years.
CBRE represented the seller, Hospitality Group LLC, in the negotiations. The buyer’s name and home city were not disclosed.
“This property received a lot of interest, and we were able to procure seven offers within two months,” said Vanessa Haddad, senior associate with CBRE Ontario and a member of the negotiating team.
“Essential-needs retailers have fared well during the pandemic and have even increased in value during the past few months as buyers have been particularly drawn to safer investments in strong population centers.”
