Rancho Cucamonga, CA – November 6, 2024 – Progressive Real Estate Partners, the Inland Empire’s leading retail real estate brokerage firm, announced today the $9,500,000 all-cash sale of a Chevron Station, ExtraMile Convenience Store and Express Car Wash at 27981 Greenspot Road in Highland, California. The purchase included both the business and the real estate. The property is an outparcel to the popular Highlands Crossing regional shopping center that is directly adjacent to the 210 freeway and home to Lowe’s, Esporta Fitness, In N Out Burger, Wingstop, Jersey Mikes and many other national and regional tenants.
Victor Buendia, Senior VP of Gas Station and Car Wash Sales at Progressive Real Estate Partners represented the seller, a San Diego based investor in the private sale. Scott Olson from C-Store Realty represented the buyer, G & M Oil Company which is the largest Chevron franchisee in California with over 200 locations.
Built in 2012, the well maintained property features a high-volume Chevron station with 8 dispensers (pumps), a self-service express car wash and an approximately 3,000 square foot ExtraMile convenience store that has a type 20 beer/wine license and sells a variety of grab and go snacks. Conveniently positioned at a signalized entrance to the shopping center, the station offers multiple points of access.
The center is located in a high-growth area with a current population of over 66,000 people and an average household income of $113,800 within a 7-minute drive. There are several new developments planned for the area including a mixed-use retail and residential project directly across the street from the site that will include 1,000+ residential units and a Costco and Stater Bros. anchored shopping center.
According to Buendia, “This transaction exemplifies the high demand for well-located, income-producing gas station and car wash properties in Southern California’s Inland Empire. With its prime spot at Highlands Crossing and proximity to the 210 freeway, this property is well positioned for future growth.” He added, “We were pleased to represent the seller in securing a successful outcome on this asset.”
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 1,650 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.