Pomona, Calif. — Progressive Real Estate Partners has brokered the $5.7 million sale of a single-tenant retail property located in Pomona, roughly 30 miles east of downtown Los Angeles. Built in 2013 and renovated in 2022, AutoZone Mega Hub occupies the 30,000-square-foot building on a new triple-net corporate guaranteed lease, which has roughly 18 years remaining. The Pomona AutoZone Mega Hub is a larger format store that features a full-service retail counter while also functioning as a mini-distribution center for satellite stores in the surrounding region.
Brad Umansky and Lance Mordachini of Progressive marketed the property and represented the seller, a private Southern California-based investor, in the transaction. Alex Smith of Rosewood Realty Corp. represented the buyer, a private Los Angeles-based developer and investor.