Rancho Cucamonga, CA – June 16, 2025 – Progressive Real Estate Partners, the leading Inland Empire retail real estate brokerage firm, announced the sale of a single-tenant NNN AutoZone Mega Hub located at 601 E. Holt Avenue in Pomona, California. The 30,000 square-foot building (including mezzanine) sold for $5,700,000 in a 1031 exchange transaction.
AutoZone Mega Hubs are larger format stores within AutoZone’s network that feature a full-service retail storefront AND function as a mini-distribution center for satellite stores in the surrounding region enabling AutoZone to provide fast and reliable replenishment and fulfillment of parts as needed. These Mega Hubs carry an expanded inventory of up to 110,000 SKUs which is significantly more than the other store formats.
Progressive Real Estate Partners’ President Brad Umansky, CCIM, and Senior Investment Sales Advisor, Lance Mordachini, exclusively marketed the property and represented the seller, a private Southern California based investor and repeat client. Alex Smith of Rosewood Realty Corp. represented the buyer, a private Los Angeles-based developer and investor who owns a portfolio of retail and multi-family assets in multiple states including California.
The Pomona AutoZone Mega Hub opened in 2023 with a brand new corporate guaranteed lease which has approximately 18 years of remaining term. This location is ranked in the top 2% nationwide for foot traffic (Source: Placer.ai) and is centrally located to serve both customers and 18+ satellite stores. Built in 2013, the building was renovated in 2022 and sits on 2.57 acres which features easy access and plenty of convenient parking.
AutoZone, Inc. (NYSE: AZ0) leads the automotive parts sector and is a publicly traded, Fortune 500 company. They currently have over 7,350 locations worldwide including 100+ Mega Hub format stores with a goal of opening 200 signaling their long-term commitment to this store format.
According to Mordachini, “The buyer was looking for a long-term NNN investment and was attracted to the corporate back leased and financial strength of AutoZone.” He added, “We received 7 offers in the first 10 days including multiple all cash offers demonstrating that there’s still plenty of capital on the sidelines waiting for the right opportunity. This property had the credit, location, and lease structure to generate significant interest and we were able to go from listing to close within 44 days”.
About Progressive Real Estate Partners
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California’s Inland Empire. The firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 1,200 lease and sales transactions valued at more than $1.8B in over 35 cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals.