December 12, 2017
A former Kmart-occupied retail property in Colton, CA has sold for $5.35 million. CBRE’s Alan Krueger and Vanessa Haddad represented Outdoor Food Court, LLC, a private investor, in the sale. The undisclosed 1031-exchange buyer from Orange County was represented by Lee & Associates’ Alexey Zabolotskikh.
Located at 1175 South Mount Vernon Ave., the 104,231 square-foot site sits adjacent to the 215 and is in proximity to the 91, 10, 60, and 210 freeways, which service both San Bernardino and Riverside counties. The city recently approved a freeway-adjacent pylon sign at the site. The new owner plans to develop the property, which offers ease of access, into an RV dealership.
“The buyer, who had a tenant in tow, saw this as an opportunity to acquire a value-add project in the Inland Empire,” said Haddad.
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