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CLAREMONT, CALIF. – An institutional investor has purchased Park View, a 42-acre land site in Claremont, for $48 million. The site was entitled for 400 residential units and 100,000 square feet of commercial building areabefore an affiliate of Allied Retail Partners LLC purchased the land for $12 million in June 2011.
The land is currently in raw condition. The sellers were LBG Real Estate Companies and Allied.