MORENO VALLEY, Calif., July 19, 2021 (Newswire.com) - Argent Retail Advisors, one of the premier retail real estate brokerage firms in Southern California, has completed the sale of a single-tenant former Acapulco restaurant at 12569 Centerpoint Drive, Moreno Valley, California. The property, which was vacant at the time of the sale, sold for $4,833,833 ($644 psf) in an all-cash transaction. The building is prominently situated just off the 60 freeway at the busy intersection of Frederick St. and Sunnymead Blvd., one of the top intersections in Moreno Valley.
Terry Bortnick, President of Argent Retail Advisors, exclusively marketed the property and represented seller, Brixton Alto Shopping Center, LLC in the transaction.
Bortnick stated, "This property received multiple offers and was in high demand from national restaurant chains, as either a purchase or lease. Ultimately the best deal for the seller was to sell the vacant building directly to the user at a record price."
Terry Bortnick, President Argent Retail Advisors 888-301-1888 x 2
Source: Argent Retail Advisors