Progressive Real Estate Partners recently finalized the sale of a fully-equipped restaurant situated at 9345 Monte Vista Ave. in Montclair for $2.5 million. The 6,200-square-foot establishment was previously occupied by a Red Lobster franchise that ceased operations earlier this year.
Spearheading the transaction were SVP Paul Galmarini from Progressive Real Estate Partners and EVP Jereme Snyder from Colliers, who jointly listed the property and represented its seller – an investor based in San Gabriel Valley. On behalf of their family-owned business which operates several popular sit-down Mexican restaurants throughout Southern California, local private party buyers were represented by Cristina Hsieh from Sperry SEGAI CRE.
The restaurant is located within an outparcel to Montclair Place – a regional shopping center spanning over 1.2 million square feet in size. According to Galmarini, “the exceptional location next to Montclair Place combined with its strong mix of entertainment and dining options as well as convenient freeway access made this property an attractive investment opportunity for owner/users.”
This recent sale marks another successful transaction completed by Progressive Real Estate Partners’ team of experienced professionals.
