Progressive Real Estate Arranges $2.8M Sale of Restaurant Building in Moreno Valley, California

by Amy Works

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has brokered the sale of a restaurant property located at 23060 Alessandro Blvd. in Moreno Valley. Kalaveras, a Southern California-based Mexican restaurant chain, acquired the building from an Inland Empire-based private investor for $2.8 million.

The 8,927-square-foot building was previously home to a Woody’s Restaurant, which closed in late 2021. Kalaveras Mexican Cuisine & Bar currently has 13 Southern California restaurants with plans underway for a dozen more locations, including this Moreno Valley site.

The fully equipped restaurant features indoor seating for 200, an outdoor patio that seats 70 and on-site parking. The building includes a commercial brewing system and super-sized kitchen with upgraded hoods and equipment. The purchase included the building, land, furniture, fixtures and equipment, as well as a Type 47 liquor license and entertainment permit.

Albert Lopez and Greg Bedell of Progressive Real Estate Partners represented the seller, while Allen Kirschbaum of Saddleback Realty represented the buyer in the deal.

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