Rancho Cucamonga, CA – September 22, 2020 – Senior VP of Leasing & Sales Pablo Velasco of Progressive Real Estate Partners brokered the sale of a 1.26 acre commercial pad entitled for a drive-thru user for $1,375,000 in a 1031 exchange transaction. The land is located in Ramona Marketplace at Ramona Expressway and Brennan Avenue in Perris, CA and was the last remaining pad available for development in the center. Pablo represented the seller, a Perris-based private party in the transaction.
Other tenants in the center include a high volume Chevron Extra Mile gas station, Carl’s Jr., Subway, Alberto’s Mexican Food and Harry’s Café.
Located on a major thoroughfare, the site has excellent visibility on Ramona Expressway with an average daily traffic count of 41,500 and is less than a ½ mile from the I-215 freeway that averages 117,000 cars per day. The property is also in close proximity to multiple industrial warehouses including Lowe’s, Ross, Wayfair and Fallas distribution centers.
Pablo Velasco represents landlords and owners in the leasing and sale of their retail properties throughout Southern California. If you would like more information about this transaction or to view Pablo’s other listings you can call or text Pablo at 951.961.1883 or pablo@progressiverep.com.