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RANCHO CUCAMONGA, CA-The 89,000-sf Country Village Shopping Center has sold for $24 million, and Empire Commercial Real Estate has won approval for the second phase of its Sierra Crossroads in Fontana as developers and investors continue to boost their interest in Inland Empire retail projects. The buyer of the Country Village Shopping Center, which is at 8800 Baseline Rd., was Beverly Hills-based Bilak Investment Co.

Bilak bought the retail center from Los Angeles-based SCI Real Estate Investments, with Dixie Walker and Charley Simpson of the Newport Beach office of Grubb & Ellis representing the seller. The center, which is located at 8800 Baseline Rd. and was built in 1974, is 97.5% leased to tenants including Stater Bros., Hancock Fabrics, Bank of America and Carl’s Jr. The buyer was represented by Ed Marek and Glenn Rudy of Capital Real Estate Advisors.

Sierra Crossroads is a 150,000-sf project where Empire Commercial Real Estate has developed the 86,000-sf first phase including StaterBros., Wells Fargo and Starbucks at the corner of Sierra and Jurupa avenues. The Fontana City Council has unanimously approved Phase II, scheduled to be completed early next year, which will bring in Walgreen’s and Bank of America.

According to Wana Sims, director of leasing for Empire Commercial, Sierra Crossroads is designed to provide dining and shopping to an area of Fontana south of the Interstate 10 Freeway. Empire Commercial is one of four business units of Ontario-based Empire Cos.

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