Wednesday , July 24 2024
World Plaza shopping Center sells for $10 million
Courtesy Hanley Investment Group Real Estate Advisors

World Plaza shopping Center sells for $10 million

World Plaza, a 55,810-square-foot multi-tenant retail property located on Highland Avenue in San Bernardino has sold for $10 million.

The shopping center, located at 1535 E. Highland Ave., includes a Chuze Fitness, Citizen’s Bank, Mother’s Nutrition, County of San Bernardino, Five Keys School, a dental office and Inland Empire Pharmacy.

The seller, Presidio Property Trust, Inc., was represented by Hanley Investment Group Real Estate and the buyer, a private investor based in the Los Angeles area, was represented by Commercial Retail Associates of Modesto.

“We generated multiple, competitive offers and procured a private Los Angeles-based buyer familiar with both the Inland Empire market and the health club industry,” said Matt Burnett, executive vice president for Hanley Investment Group Real Estate. “The sale of the Highland Avenue shopping center, a gym-anchored asset located in the heart of the Inland Empire, illustrates the strong rebound in the investment market from the COVID-19 pandemic.”

The property was remodeled in 2018.

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