Progressive Real Estate Partners brokers Chris Lindholm and Paul Galmarini closed the sale of a 1.73-acre parcel of vacant land for $3,000,000 in an all-cash transaction. The land, which is zoned mixed-use, is located at the northwest corner of Foothill Boulevard and Etiwanda Avenue in Rancho Cucamonga.
Lindholm and Galmarini represented the seller, a Los Angeles County-based private investor in the transaction. The buyer, also a private Los Angeles County-based investor, was represented by Nicholas Christen of Province West.
The buyer also owns the vacant land immediately adjacent and north of the property and is in the initial stages of planning and developing a mixed-use project combining the properties. Neither a timeline nor specific details have been released yet.
The property is less than half a mile from the heavily traveled I-15 freeway and sits at a four-way signalized intersection on the city’s prime east-west thoroughfare, with visibility to more than 40,000 cars per day.
