Hybrid Model Fits the Bill for Former Food 4 Less

Due to its location and retail market dynamics, brokers recognized the highest and best use of a former grocery store was a hybrid that included a retail showroom and light industrial. That strategy paid off.

The former Food 4 Less grocery store located at 109 North McKinley St. in Corona, recently sold for $4.78 million. The 55,000-square-foot building was sold to Expert Hardware Flooring. In addition to a retail showroom, the location will also serve as a wholesale distribution center for its commercial flooring clients.

Built in 1989, the building features two loading docks and bay doors, expansive parking, pylon signage along McKinley Avenue, and visibility to more than 40,000 daily vehicles at the signalized intersection of Magnolia and McKinley avenues. The property is also less than a half-mile from the 91 Freeway in a heavy commercial area.

Greg Bedell and Paul Su of Progressive Real Estate Partners exclusively marketed the property and represented the seller, a private investor group based in West Los Angeles. The buyer was represented by Barret Woods of Lee & Associates.

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