Rancho Cucamonga, CA – July 17, 2024 – Progressive Real Estate Partners’ Senior Retail Specialist Albert Lopez represented the landlord in the signing of a 20-year lease with International House of Pancakes (IHOP) for a 5,020 square-foot space at 17398 Main Street in Hesperia, California. The building which was formerly occupied by Country Kitchen/Carrows is an outparcel to the Vallarta and Dollar Tree anchored shopping center located at the highly trafficked signalized intersection of Main Street and I Avenue with traffic counts of over 56,000 cars per day. Meran Joe Solamany of Keller Williams Realty Westside represented IHOP in the transaction.
The IHOP franchisee leasing the restaurant is the Soleimani Group which operates 30+ IHOP locations and has been a franchisee since 2005. They will be doing a major interior and exterior remodel to reflect the IHOP brand and are aiming for an opening in late 2024 or early 2025. In addition to serving their world-famous buttermilk pancakes with a choice of toppings, IHOP’s menu includes a wide variety of breakfast, lunch and dinner items at affordable prices in a family friendly setting.
Along with Vallarta and Dollar Tree other retailers in the center and nearby include Firestone Tire, Ace Hardware, Walgreens, Auto Zone, Chase, Jack in the Box and Wendy’s. Over 152,000 people with an average household income in excess of $87,000 reside within 15-minutes of the property.
To learn more about this transaction and other SoCal retail leasing and investment sales opportunities reach out to Albert at 909.900.8922 OR albert@progressiverep.com.
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, San Gabriel Valley and Coachella Valley. The office is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 1,650 lease and sales transactions valued at more than $1.8B in 35+ cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their commercial real estate goals. For more information visit www.progressiverep.com.