Sacramento, CA – August 31, 2026 – Progressive Real Estate Partners, a leading Southern California retail brokerage firm, announced the $4 million acquisition of a free-standing, single tenant 10,749-square-foot building leased to American Dental Companies. Located at 905 Secret River Drive in Sacramento, California, the building was acquired by a private investor as part of its 1031 Exchange.
905 Secret River Drive represents the third upleg in the investor’s strategic 1031 Exchange, along with the acquisitions of an AutoZone in Bakersfield, California, and a multi‑tenant retail center in Temecula, California. The exchange allowed the investor to transition out of a highly management‑intensive shopping center in Walnut, California—an asset with nearly 15 predominantly mom‑and‑pop tenants and substantial operational friction, including significant lease rollover, deferred maintenance, tenant downtime, and recurring leasing commissions and capital expenditures.
Progressive Real Estate Partners Senior Vice President and Managing Director Greg Bedell represented the buyer. Daniel Solomon of Kidder Matthews represented the seller, a private investor.
“The buyer was attracted to American Dental Companies’ long‑term, 10‑year absolute NNN lease, location within a high‑income trade area, and the below‑market, easily replaceable rent,” Bedell said. “This acquisition served as a key component of our broader investment and 1031 exchange strategy, where Progressive Real Estate Partners successfully guided them out of an aging, capital‑intensive, high‑management multi‑tenant retail center and into properties that better align with their long‑term goals.
Bedell continued by saying “The exchange was designed to fundamentally reposition the client’s portfolio. Rather than simply replace one shopping center with another, we used the opportunity to diversify into three smaller assets across multiple Southern California markets, improve tenant credit, extend lease duration, reduce rollover exposure and significantly reduce the day-to-day management burden.”
Built in 1980 and recently renovated, the American Dental Companies building on Secret River Drive features modern layouts, high-end finishes, and state-of-the-art dental equipment. ADC maintains a doctor-led, private practice feel while providing the advantages of a larger organization. Their model empowers clinicians to lead while benefiting from centralized resources, creating high tenant satisfaction and long-term practice loyalty.
It is in a highly desirable residential pocket of Sacramento and benefits from proximity to major hospitals, outpatient clinics, dental specialists, and medical office corridors, creating consistent referral traffic and daily patient flow. The surrounding medical ecosystem enhances long-term performance and supports the tenant’s continued success. It is also just minutes from major thoroughfares, providing convenient access to neighboring communities. The property has visibility to an average of 22,700 +/- cars per day on Florin Road with an average household income $131,000 within 1 mile.
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 firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 2,000 lease and sales transactions valued at more than $2.0B in over 50 cities throughout the region. Progressive Real Estate Partners uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals.