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RIVERSIDE, CALIF. — Progressive Real Estate Partners has brokered the sale of a retail building located at 10000 Magnolia Ave. in Riverside. A San Bernardino-based private investor sold the property to a Laguna Beach-based development firm for $3.2 million.
A portion of the 22,000-square-foot building is being renovated for the new tenant, the Social Security Administration, which is slated to open in 2018.
Greg Bedell and Pablo Velasco of Progressive Real Estate represented the buyer and seller in the transaction.