Rancho Cucamonga, CA – August 2, 2021 – Albert Lopez, Senior Retail Specialist at Progressive Real Estate Partners, represented a Riverside County based private investor in the sale of a 10,128 square-foot anchor space to Pioneer Cash & Carry for $1,750,000. Located at 9185 Magnolia Avenue in Riverside, California the storefront is adjacent to Family Dollar at the signalized intersection of Magnolia and Donald Avenues with an average daily traffic count of 28,360 cars.
Pioneer Cash & Carry opened their first location in 1982 and currently operates two grocery stores in Artesia, California. Riverside will be their 1st Inland Empire location when it opens in 2022. The family owned and operated specialty grocer offers an extensive variety of fresh Indian and ethnic produce and a wide array of unique Indian brand name products. A customer favorite is the Pioneer bakery where shoppers can purchase Roti, Pav and Thepla baked goods which are made fresh daily.
Remodeled in 2016, the space features an open floor plan, two loading docks, plenty of parking and monument signage. The store is within a mile of the heavily traveled 91 freeway in a well-established area with a daytime population of 45,295 and an overall population of 142,420 within a 3-mile radius.
This is the 12th owner/user sale the firm has completed in the past year reflecting the strength of this trend. To learn more about this transaction and other investment and leasing opportunities in SoCal’s Inland Empire contact Albert Lopez at albert@progressiverep.com or 909.900.8922.
About Progressive Real Estate Partners
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California’s Inland Empire market. The office is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 1,200 lease and sales transactions valued at more than $1.8B in 35+ cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their commercial real estate goals.