Press Release – updated: Jul 27, 2017 07:00 EDT
RIVERSIDE, Calif., July 27, 2017 – Ron Duong of the Duong Retail Group closed escrow on two Inland Empire Retail properties. The University Heights Shopping Center by the University of California, Riverside was sold to a private investor based in San Bernardino County. Ron Duong and Roy Dilekoglu represented both the buyer and the seller on the transaction with an aggressive marketing campaign that resulted in multiple offers generated within two weeks of listing the property and a record low cap rate of 5 percent. Ron Duong and Peter Deltondo also represented the buyer and seller of a new Black Bear Diner in Chino, California. The sale of Black Bear Diner represents the first ever Black Bear Diner to hit the market and sell in the Inland Empire closing at a cap rate of 5.18 percent resulting in one of the lowest cap rates for a Black Bear Diner to have traded at. According to Duong, “Despite some concerns in the media on the direction of retail, the appetite for quality retail properties remains strong. We implemented an aggressive marketing campaign that leverages Marcus & Millichap’s platform to generate multiple offers to achieve record pricing for our clients.”
Ron Duong, lead broker of the Duong Retail Group is a top agent in Marcus & Millichap’s Newport Beach office. Last year alone Ron closed over $112,000,000 in sales and is on track to double that number in 2017. Ron’s track record of closings represents some of the highest prices and most aggressive cap rates in the marketplace.
About Marcus & Millichap
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit www.MarcusMillichap.com.
For questions or comments, please contact:
Ron Duong[email protected]949 419-3233
Source: Duong Retail Group
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