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11/21/18
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Four parcels of prime commercial land totaling 15 +/- acres in Hesperia have sold for for $4.3 mil. The City of Hesperia is the gateway to the High Desert region, which is one of the fastest growing areas of Southern California’s Inland Empire market.
Three pads totaling 4.6 acres at Ranchero Crossings were sold to private party investors for a combined total of $3 mil. The parcels are adjacent to the 15 Fwy and the new Ranchero Road off-ramp/overpass that opened in 2015. In addition to the outstanding freeway visibility, significant infrastructure improvements have been completed making the land even more desirable. Starbucks, 76/Circle K and Chevron are already open or under construction at the location.
Also, Huntington Beach-based Primaco Inc purchased a 9.6-acre parcel at Ranchero Rd and Tamarisk, for $1.275 mil in an all-cash transaction. The location is one of the only remaining parcels zoned for commercial use with excellent frontage along Ranchero Rd, which is in the process of being improved into a five-lane road and becoming a major east-west transportation corridor.
Brad Umansky, Pablo Velasco and Chris Lindholm with Progressive Real Estate Partners represented the seller in the transactions. Progressive Real Estate Partners is also currently marketing an additional 39 acres at Ranchero Crossings, which is well suited to accommodate fast food, multi-tenant retail, entertainment, hotel or medical users.
Umansky noted, “The 2015 opening of the Ranchero Road off-ramp/overpass on the I-15 freeway combined with the expansion of Ranchero Road and the limited amount of commercial zoning along Ranchero all contributed to strong buyer interest in the land.”
Velasco added, “There are a number of new developments planned for Hesperia including Tapestry, which is an approximately 16,000-unit, master-planned residential community with the first phase scheduled to break ground in early 2019. This project along with several others is also fueling demand for new retail and service options in the City.”
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