Hemet, CA.
IE Business D. | Contributed
A medical/commercial complex in Hemet has been sold for $5.5 million.
Courtyard Medical & Professional Center at 910-960 N. State. St. was purchased by an out-of-country investor whose name was not released, Progressive Real Estate Partners in Rancho Cucamonga announced today.
The seller was a Newport Beach investor who also wished to remain anonymous. Progressive Real Estate represented both parties.
Built in 1981, the center covers nearly 40,000 square feet and is next to a Riverside County courthouse. It’s fully occupied and has 14 service-oriented tenants, including a law office, paralegal and DNA collections office.
The center is at the intersection of State Street and Fruitvale Avenue, which accommodates more than 20,400 vehicles a day. Thirteen qualified offers were made on the project, a sign that investors are willing to get into the Inland Empire’s second and third-tier markets, according to Progressive Real Estate.
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