California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


California  + Inland Empire  + Retail  | 
San Jacinto Farmhouse-Style Retail Center Trades for $3M, Progressive Real Estate Partners Arranges Deal

San Jacinto Farmhouse-Style Retail Center Trades for $3M

Progressive Real Estate Partners has brokered the $3 million sale between two Southern California private investors for Farmer’s Corner, a 77,000-square-foot farmhouse-style indoor retail center in San Jacinto, CA. The firm’s Greg Bedell and Mike Lin represented both parties in the transaction.

The 43-year-old property’s western-themed architecture pays tribute to San Jacinto’s ranching roots, but Farmer’s Corner has been challenged in the current economy, with a vacancy rate of about 40%.  The buyer plans to update the property, replace the roof and implement an aggressive marketing effort to lease-up the vacancy.

“Due to the high vacancy and significant deferred maintenance, this was a challenging transaction. Fortunately, we were able to identify a buyer that appreciated the opportunity to invest in a property with significant upside potential,” said Bedell. “We worked diligently with the seller, buyer and lender to structure a transaction that fulfilled the objectives of all parties involved.”


Inside The Story

Progressive Real Estate Partners' Greg Bedell

About Mark Nieto

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.