Progressive Real Estate Partners Brokers $5.6M Montclair Retail Center Sale

Progressive Real Estate Partners completes the $5.6M sale of a 28,000 sq ft multi-tenant retail center in Montclair. Read the full transaction details. represented both a private Los Angeles-based seller and a Los Angeles-based buyer in the sale of a 28,000-square-foot multi-tenant neighborhood retail center located at 5458-5484 Moreno Street in Montclair for $5.6 million. The retail center is located just off the I-10 Freeway and Central Avenue, approximately 0.3 miles from Montclair Place, a dominant regional retail destination generating six million annual visits and undergoing continued modernization. The property also benefits from nearby residential development within the Arrow Highway District, adding long-term population density to the North Montclair trade area. The seller is a Los Angeles-based private investor. The building is 89% leased to eight local tenants, predominantly restaurants, education, personal service and experiential uses. 'Today's retail investors may prefer grocery-anchored properties with national credit shop tenants, but this investment was about the quality of the real estate, the basis and the underlying economics,' said Bedell. 'At roughly $200 per square foot, with rents substantially below market, the property offered a compelling risk-adjusted opportunity despite its primarily local tenant roster. We expect the second half of 2026 to remain active but selective, with ample capital pursuing Inland Empire retail. ' Bianco-West added, 'This deal demonstrates that there continues to be significant private-capital demand for Inland Empirewhen the real estate and basis make sense. Investors have become more disciplined, but they have not stopped buying. Buyers are increasingly willing to look beyond national-credit tenancy and evaluate the actual fundamentals of the trade area, replacement cost, existing rents and future NOI growth. '