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Cardenas Market building sells for $8.2 million
Courtesy Hanley Investment Group

Cardenas Market building sells for $8.2 million

A San Bernardino building occupied by Cardenas Markets has been sold.

The structure at 2045 E. Highland Ave. sold for $8.2 million to a private investor in Corona whose name was not released, according Hanley Investment Group Real Estate Advisors, a real estate brokerage in Corona Del Mar.

Sixteen offers were made on the building, which was built in 1988 and renovated four years ago. It covers 43,360 square feet and is part of Sterling Plaza, a fully-leased shopping center whose tenants include Planet Fitness, Starbucks, Wendy’s, O’Reilly Auto Parts, Bank of America and KFC.

Hanley Investment represented the seller, a Newport Beach developer who also wished to remain anonymous. The buyer was represented by ANA Capital in Los Angeles.

Cardenas, one of the most successful Hispanic supermarket chains in the United States, has spent about $4 million upgrading the building. The Ontario-based company has a “long-term corporate lease” on the site, according to Hanley Investment.

Sterling Plaza is at Highland and Sterling avenues, an intersection that accommodates about 33,700 vehicles per day, and is two miles from Yaamava’ Resort & Casino, according to the statement.

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