Progressive Real Estate Partners Brokers $2M Sale of Retail Pad in Yucca Valley, CA

Rancho Cucamonga, CA – October 6, 2021  – Progressive Real Estate Partners, the leading Inland Empire retail real estate brokerage firm, announced today the sale of a 6,518 square-foot multi-tenant retail pad located at 58132 Twentynine Palms Highway in Yucca Valley, California.

The property sold for $2M in a 1031 exchange transaction.  The retail pad is home to national retailers Gamestop, Verizon Wireless and Metro PCS and the building is an outparcel to a Stater Bros. anchored shopping center.

Progressive Real Estate Partners’ Greg Bedell, CCIM, VP of Investment Sales represented the seller and Victor Buendia, Business & Commercial Real Estate Sales specialist represented the buyer.  The seller was a Northern California private investor and the buyer a SoCal Inland Empire investor that also owns other Yucca Valley properties.

In addition to Stater Bros., the 212,000 square-foot center is also home to 99 Cents Only, Dollar Tree, Tractor Supply, Harbor Freight Tools, Hibbett Sports, Pizza Hut and Jack in the Box.  Ideally situated on the hard, signalized corner of Twentynine Palms Highway and Balsa Avenue the property is visible to nearly 30,000 vehicles per day.

In addition to excellent visibility, the retailers enjoy prominent monument signage and the center is well positioned to serve Yucca Valley, Joshua Tree and Twentynine Palms, which is home to the nation’s largest military base with over 20,000 active duty personnel and civilians living onsite.

“The retail pad’s outstanding credit tenancy, excellent signage and prominent location in an area where they own other properties made the listing very attractive to the buyer,” according to Victor Buendia.

Greg Bedell added, “Year to date 60% of Progressive’s retail sale transactions have been purchased by Inland Empire investors marking a significant increase from what has historically been less than 20%.  This sale is another example of that trend and further illustrates the growing wealth and financial sophistication of the region.”

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.