Progressive Real Estate Partners has arranged the $4.6 million sale of a 28,000-square-foot retail building on Moreno Street in Montclair, CA. The buyer, an LA-based private party, plans to open and operate an auto service business at the location.
The building is visible from Interstate 10 and is just a quarter mile from the Montclair Place shopping center. Progressive Real Estate Partners’ brokers Mike Lin, VP of Investment Sales and Roxy Klein, VP of Retail Leasing & Sales represented the seller, a Los Angeles-based investor. The transaction closed with a 30-day escrow in an all-cash 1031 exchange.
The sale offered the owner/user an opportunity to acquire a freeway-visible property with unique attributes including an open floor plan, loading dock and plenty of parking.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.