Inland Empire Investor Acquires Retail Building In Corona For $3.55 Million With Brokers Lance Mordachini & Trinnie Lee

This transaction involved the sale of a multi-tenant retail building located at 1535 East Ontario Avenue in Corona, California. The property was sold for $3,550,000 and encompasses 8,112 square feet, resulting in a price per square foot of $438. The building is fully leased and includes four tenants, with notable occupancy by Sombrero Mexican Restaurant, alongside a drive-thru space that has below-market rent and direct access to Interstate 15.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,550,000
• Square Footage: 8,112
• Price Per Square Foot: $438
• Address: 1535 East Ontario Avenue
• Market: Corona, CA

Progressive Real Estate Partners facilitated this transaction, represented by brokers Lance Mordachini and Trinnie Lee. The buyer is identified as an Inland Empire-based investor participating in a 1031 exchange, securing a fully leased asset with a diverse tenant mix.