Rancho Cucamonga, CA – September 22, 2016 – Progressive Real Estate Partners announced today the sale of an approximately 14,700 square-foot building for $2.5M in an all cash transaction. The free-standing two-story building is located at 203 S. Azusa Avenue in West Covina, CA.
Progressive Real Estate Partners Senior VP and investment sales expert Frank Vora, CCIM exclusively marketed the property and represented the seller, a private investor based in San Diego County. The buyer, Options for Learning, is a non-profit public service agency providing Head Start, Preschool and child-care services at multiple locations throughout the greater San Gabriel Valley and Whittier areas. Rick Sheckter of Newmark Grubb Knight Frank in the City of Industry represented the buyer in the transaction.
The building, previously occupied by a Tutor Time Preschool, was completely remodeled in 2001 and features several classrooms, teacher’s lounge, indoor and outdoor play areas and dedicated parking. The property is directly across from the West Covina Auto Plaza at the signalized intersection of Azusa Avenue and Garvey Avenue, with an average daily traffic count of 48,200. Furthermore, the location enjoys strong demographics with over 489,000 people within a 5-mile radius including 64,000 children between the ages of 0-9.
Options for Learning will be offering Head Start, Early Head Start and Preschool programs at the location and is expected to have approximately 30 employees and up to 209 children from infants to the age of 5. The school will operate year round Monday thru Friday from 6am to 6:30pm and offer a variety of curriculum including Kindergarten prep. For more information visit www.optionsforlearning.org.
“Since the building had previously been operated as a pre-school and was already equipped with multiple classrooms and play areas it was the perfect fit for Options for Learning and provided an opportunity for them to expand in an area with a high population of families and children,” according to Frank Vora, Senior VP of Progressive Real Estate Partners.
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 500 lease and sales transactions 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. PREP is led by Brad Umansky, founder and president. For further information visit www.progressiverep.com.