A 6,200-square-foot retail property located at 9345 Monte Vista Avenue in Montclair was sold for $2.5 million. This property, previously occupied by Red Lobster, recently transitioned ownership to a local Mexican restaurant chain operator who intends to initiate renovations for a new sit-down restaurant. The prime location near Montclair Place and the I-10 Freeway provides a strategic advantage for potential operations.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,500,000
• Square Footage: 6,200
• Price Per Square Foot: $403
• Buyer's Representative: Cristina Hsieh - Sperry SEGAI CRE
• Seller's Representatives: Jereme Snyder - Colliers; Paul Galmarini - Progressive Real Estate Partners
• Date of Transaction: 01/03/2025
• Market: Montclair

The transaction involved notable representatives, with Cristina Hsieh from Sperry SEGAI CRE representing the buyer, while the seller was represented by Jereme Snyder from Colliers and Paul Galmarini from Progressive Real Estate Partners. Their roles were crucial in facilitating the deal, ensuring all necessary negotiations and processes were efficiently handled.