Moreno Valley, CA – October 19, 2026 – Progressive Real Estate Partners Senior Vice President and Managing Director Greg Bedell and Senior Investment Sales Specialist Trinnie Lee represented a private Orange County, CA-based investor in the sale of a 23,528-square-foot multi-tenant retail property located at 24300-24320 Sunnymead Boulevard in Moreno Valley, CA for $3.1 million. A private Orange County, CA-based investor acquired the property.
The retail property is primarily occupied by automotive-related tenants with bay doors. It is situated along Sunnymead Blvd, a primary commercial corridor in Moreno Valley, located less than a mile from the 60 Freeway, providing direct connectivity to several of the city’s most dominant retail destinations including Towngate Shopping Center (±7.2M annual visitors), Moreno Valley Mall (±4M annual visitors), and Moreno Valley Plaza (±3.7M annual visitors) per Placer.ai. Moreno Valley is the 2nd largest city in Riverside County with a current population of ±216,440 residents and is growing at an annual rate of approximately 0.59%, representing a 3.63% population increase since the 2020 census.
“The buyer was attracted to this value-add investment opportunity driven by below-market rents, long-term tenancy, and potential for operational improvements,” said Lee. “The buyer plans to make strategic capital improvements and enhance the tenant mix over time.”
“Moreno Valley continues to benefit from population and employment growth, supporting demand for service-oriented retail businesses,” said Bedell. “With limited new retail development and a growing population to serve, established commercial corridors like Sunnymead Boulevard are well-positioned to benefit from these favorable supply and demand dynamics.”
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, San Gabriel Valley and Coachella Valley. The firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 2,000 lease and sales transactions valued at more than $2.0B in over 50 cities throughout the region. Progressive Real Estate Partners uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals.