Rancho Cucamonga, CA – July 21, 2021 – Progressive Real Estate Partners’ VP of Investment Sales Greg Bedell and VP of Retail Leasing & Sales Paul Su, recently represented a West Los Angeles private investor in the sale of a 7,078 square foot retail pad building located at 2560 N. Perris Blvd., Perris, CA for $2,335,000 ($329 psf). The property sold to a local Perris-based buyer who plans to renovate the space and open a Mexican restaurant and catering business.
This sale reflects the growing trend of owner/users purchasing retail properties. This has become especially popular due to the availability of affordable SBA financing which is enabling local entrepreneurs to purchase commercial properties that they might otherwise not be able to acquire.
Built in 1996, the storefront is located in the well-established 292,000 square-foot Perris Spectrum shopping center which is anchored by Cardenas, Dollar Tree and a recently opened Fitness 19. The property benefits from its prime location at the signalized intersection of N. Perris Boulevard and Orange Avenue with combined daily traffic of 28,500+ cars and is less than 1 ½ miles from the busy I-215 freeway with average daily traffic counts of 103,000+ cars. The Spectrum is located in a high growth trade area including the adjacent proposed Harvest Landing residential community with 1,860 homes and a 200+ unit apartment complex. Other tenants at the popular center include Wells Fargo, Sprint, Taco Bell, Jack in the Box, Little Caesars (opening soon), KFC (opening soon) and a variety of other shops and services.
This is the second sale the Progressive Real Estate Partners team has completed at the Perris Spectrum. To learn more about this transaction and other investment and leasing opportunities in SoCal’s Inland Empire contact Greg Bedell at greg@progressiverep.com | 951.479.7994 OR Paul Su at paul.su@progressiverep.com | 626.417.4539.
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. The firm 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 a more than $1.8B in over 35 cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals.