Progressive Real Estate Partners Directs $3.3M Sale of US Bank-Leased Property in Southern California
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has arranged the sale of a single-tenant retail property located at 6644 Carnelian St. in Rancho Cucamonga. A Santa Barbara County, Calif.-based private investor sold the asset to a San Bernardino County, Calif.-based private investor for $3.3 million, or $763 per square foot.
Greg Bedell of Progressive Real Estate Partners represented both parties in the transaction.
Originally built as Pomona First Federal Bank in 1979, the 4,278-square-foot location was acquired by US Bank in 2008 and has operated continuously as a bank for the past 42 years.