Press Release (ePRNews.com) - RANCHO CUCAMONGA, Calif. - Mar 21, 2017 - Progressive Real Estate Partners, a leading Inland Empire brokerage firm, announced today that it has completed a 15-year lease with Golden Corral for a 12,936 square-foot restaurant at 1640 E. 4th Street in Ontario, California. Construction is slated to begin in April and the restaurant is projected to open in late 2017. Located in the Kmart-anchored Vineyard Freeway Center, the project has superb visibility and signage on the busy I-10 freeway with an average daily traffic count of 237,000 cars passing by the location.
Progressive Real Estate Partners Retail Sales & Leasing Specialist Paul Su marketed the property and exclusively represented both Golden Corral and the lessor in the transaction.
In addition to Kmart, the 163,000 square-foot center is also home to a variety of shops, services and restaurants including RadioShack and Domino’s Pizza. Coupled with the new Golden Corral, the landlord is embarking upon a renovation of the 60,000 square-feet of shop space that will include enhanced facades, a new color scheme, and parking lot renovations.
Founded in 1973, Golden Corral is widely recognized as “America’s #1 Buffet & Grill”. The restaurant is in over 40 states with nearly 500 locations including 14 in California. The Ontario restaurant will be their 15th California location and one of five in Southern California’s Inland Empire. This is the first Golden Corral operator in Southern California taking an existing non-restaurant location and completely renovating the space versus new ground-up development. The family-friendly concept is well known for its legendary, endless buffet featuring an abundant variety of delicious home-style favorites and continuous new menu offerings for breakfast, lunch and dinner at a great value. The new restaurant will seat over 400 guests in a casual atmosphere.
“The outstanding freeway location and signage, strong demographics and a growing trade area made this the perfect location for Golden Corral to expand their dining concept to a new customer base. The restaurant will be a great addition to both the shopping center and the community”, according to Paul Su, Retail Sales & Leasing Specialist at Progressive Real Estate Partners.
About Progressive Real Estate Partners
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California’s Inland Empire. The firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 500 lease and sales transactions in over 35 cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals. The firm is led by Brad Umansky, founder and president. For further information visit www.progressiverep.com.
You can also follow Progressive Real Estate Partners on Linkedin, Twitter (@Progressive_REP) or Facebook (facebook.com/ProgressiveRealEstatePartners).
Progressive Real Estate Partners