Rancho Cucamonga, CA – Oct. 16, 2017 – Progressive Real Estate Partners, a leading Inland Empire retail brokerage firm, announced today the FOR SALE listing of multiple parcels of prime commercial land totaling 55 +/- acres in Hesperia, California with a combined value of approximately $12M. The City of Hesperia is the gateway to the High Desert region which is one of the fastest growing areas of Southern California’s Inland Empire market.
The sale of the properties is due to the untimely passing of one of Hesperia’s long-time prominent developers, Michael Gallagher. The Gallagher family recognizes the importance of the properties to the community and that they need to be developed by an experienced commercial developer.
The listings include:
- Ranchero Crossings which consists of 5 parcels ranging in size from .75 to 28.8 acres totaling 45 acres. The land is adjacent to the 15 Freeway and the recently opened Ranchero Road off-ramp/overpass. The new overpass provides current and future residents the ability to more easily access the 15 Freeway. A number of new developments are planned in the trade area including Tapestry which is an approximately 16,000 unit master planned residential community. In addition to the outstanding freeway visibility, significant infrastructure improvements have been completed making the land even more desirable and Starbucks, 76/Circle K and Chevron are already under construction at the location. The balance of the parcels are ideally situated to accommodate a large shopping center, entertainment venue or medical facilities.
- 9.6 Acres of Commercial Land located at Ranchero Road and Tamarisk – This is one of the only remaining parcels zoned for commercial use with excellent frontage along Ranchero Road, which is in the process of being improved into a 5 lane road and becoming a major east-west transportation corridor. A shortage of nearby retail to serve local residents and a lack of availability of competitive sites makes the location well suited to accommodate a neighborhood grocery-anchored shopping center. Residents currently have to travel a substantial distance to Main Street for almost all of their shopping needs.
“Both listings represent an excellent opportunity for a retail developer to acquire prime real estate in an underserved trade area,” according to Brad Umansky, President of Progressive Real Estate Partners. He added, “We are honored to be working with the Gallagher family to help bring Michael’s vision for both properties to reality.”
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 market. The office is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 500 lease and sales transactions 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. PREP is led by Brad Umansky, founder and president.