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December 14, 2019
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INLAND EMPIRE NEWS
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New Construction Retail Property in Rialto Sells for $280/sf

11/11/19

A 31.3k sf, new-construction, two-tenant retail building in Rialto sold for $8.775 mil ($280/sf). Built in 2018, the building is occupied by ALDI grocery store and WSS shoe store.

The building sits on 2.46 acres at 630-660 W. Foothill Blvd, at the signalized intersection of Foothill (Highway 66) and Cactus Ave, with average daily traffic counts of 33,000 cars per day. The new-construction building includes an 18.8k sf ALDI store and a 12.4k sf WSS.

The ALDI has a corporate-guaranteed long-term ground lease with fixed increases every five years and options to renew. WSS, which relocated from a smaller location in Rialto it had occupied for approximately 15 years, has a corporate-guaranteed long-term lease with fixed increases and options to renew.

Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors, along with Greg Bedell with Progressive Real Estate Partners, represented the seller, a private partnership from Los Angeles. The buyer, a private investor from the San Fernando Valley, was repped by Doug Cole with Marcus & Millichap.




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