With the approval of the Bankruptcy Court, Keen-Summit Capital Partners, LLC has been retained to market an income-producing, mixed-use restaurant/office complex located in Ontario, CA. The property is being offered in a bankruptcy sale on behalf of Debtor, Sarkis Investments Company, LLC.
Known as Plaza Continental, the center is located immediately off of the San Bernardino Freeway at the corners of Porsche Way and Inland Empire Boulevard. The center consists of approximately 120,000 sq. ft. situated on 15.37 acres, providing for ample parking. Current tenants include Black Angus Steakhouse and Benihana Japanese Steakhouse, among others, and the center generated Net Operating Income of approximately $1.4 million as of December, 2014.
“This is a spectacular investment opportunity with added-value potential given current vacancies in the center. With that said, a vacant restaurant pad consisting of approximately 6,100 sq. ft. is expected to be leased up in the near term. The Debtor is currently in negotiations on a ten-year lease at market rental rates with scheduled increases throughout the term. We expect the prospective tenant to be a great fit within the center,” said Keen-Summit Capital Partners Managing Director and Principal, Harold Bordwin. “We are very excited to take this property to market.”
Other tenants in the center include El Torito Restaurant, Century 21 Town & Country, West Coast Ultrasound and Platt College Los Angeles. The center is being offered at $28.5 million.
Offers are currently being considered. As such, interested parties are encouraged to act immediately.
For more information about the property, contact Harold Bordwin or Robert Tramantano at 646-381-9222 or at email@example.com or firstname.lastname@example.org.