April 5, 2016 Comments Off on Progressive Real Estate Partners Fetches 5.1% Cap Rate in Colton Views: 321 California, California News, Inland Empire, West

Progressive Real Estate Partners Fetches 5.1% Cap Rate in Colton

Rancho Cucamonga-based Progressive Real Estate Partners brokered the sale of Bluffs Crossing, a 6,167-square-foot multi-tenant retail center in Colton, CA for $1.9 million at a cap rate of 5.1 percent.

The 1031 exchange transaction involves a center ideally located at 1231 E. Washington St., directly adjacent to the I-215 freeway. Built in 2007, Bluffs Crossing is conveniently located in the retail hub of Colton and is home to a mix of food and service users.

Progressive’s Greg Bedell exclusively marketed the property and represented the seller, a private investor based in Sherman Oaks, CA. Fred Furey, an independent Huntington Beach based broker, represented the buyer, a private investor based in Chino Hills, CA.

Connect with Progressive Real Estate Partners’ Bedell

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