IE Business Daily Business news for the Inland Empire.
World Plaza, a San Bernardino shopping center, has been sold.
The property at 1535 E. Highland Ave. was sold by Presidio Property Trust Inc. in San Diego for an undisclosed sum, according to Hanley Investment Group Real Estate Advisors in Corona Del Mar.
The sale was announced in a statement last week on Hanley Investment’s website.
Hanley Investment represented Presidio Property Trust in the negotiations. The buyer, represented by Commercial Retail Associates of Modesto, was a Los Angeles-based investor whose name was not released.
The shopping center, which covers 55,810 square feet, was fully leased at the time of sale. It’s near the Foothill Freeway at Highland and Del Rosa avenues, an intersection that accommodates about 45,000 vehicles a day, according to the statement.
Tenants include Chuze Fitness, Citizens Bank, Mother’s Nutrition, San Bernardino County, Five Keys School, a pharmacy and a dental office.
During the last two years Hanley Investment Group, has sold 102 retail properties in Riverside and San Bernardino counties worth an estimated $550 million, according to the statement.
