Rancho Cucamonga, CA – September 12, 2024 – Progressive Real Estate Partners, the leading Inland Empire retail brokerage firm, announced today the signing of a new 10-year lease with Pic N Save Bargains for a 29,680 square-foot anchor space (former 99 Cents Only Store) at 14670 7th Street in Victorville, California. The store is located in a Superior Grocers anchored center and is expected to open in November of this year. Other tenants in the center and nearby include Costco, Food 4 Less, dd’s Discounts, Harbor Freight Tools and numerous other value oriented national tenants.
Progressive Real Estate Partners President Brad Umansky and Senior Retail Specialist Monica Dal Bianco -West exclusively marketed the property and represented the landlord in the transaction. James Clark from James S. Clark Consulting in Irvine represented the tenant.
Founded in 2019, Pic N Save Bargains is a relatively new concept that is a reinvention of the former Pic N Save brand which sold to a competitor and exited the marketplace by the early 2000s. Leading the new venture is Mark Miller who has an extensive background in retailing including serving as President of the original Pic N Save for 15 years. The first two Pic N Save Bargain stores have already successfully opened in Anaheim and Whittier with several more expected to open in the next 12 months including the Victorville location.
Pic N Save Bargains offers a “treasure hunt” like shopping experience featuring a wide assortment of close-out and bargain merchandise including products from top brands across categories such as home essentials, party supplies, seasonal decor and grocery items. The interior of the Victorville store is being updated to reflect the brand’s mission of creating a fun, clean and well-organized shopping environment. There is plenty of convenient parking and the store will be prominently featured on the shopping center pylon signage providing high visibility for shoppers.
The shopping center is located near the I-15 freeway at the signalized intersection of 7th Street and La Paz Drive with visibility to an average of over 30,000 cars per day. Furthermore, the property is easily accessible to the over 225,000 people who live within 15 minutes of the property that have a median household income of $74,580.
According to Monica Dal Bianco West, “We believe this location will be ideal for Pic N Sav Bargains. The value-oriented trade area including the co-tenancy with Superior Grocers should result in a very successful store and we look forward to their grand opening.”
Brad Umansky added, “The significant interest in this anchor space immediately after 99 Cents Only vacated demonstrates the demand and the fact that there are still numerous retailers aggressively seeking new opportunities.”
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.