IE Business Daily Business news for the Inland Empire.
A Victorville building occupied by AutoZone and Dollar Tree has been sold for $4.6 million.
The 19,300-square-foot structure that is home to both tenants was formerly occupied by Rite Aid and refurbished two years ago, according to Hanley Investment Group Real Estate Advisors in Corona Del Mar.
That structure at 13720 Bear Valley Road is part of a neighborhood shopping center anchored by Stater Bros. Both the buyer and seller declined to be identified.
The property, which is in one of Victorville’s strongest retail corridors, generated multiple offers, said Bill Asher, executive vice president with Hanley Investment.
“This property offered a rare combination of investment‑grade tenancy, new 10‑year leases, and adjacency to one of the top‑performing Stater Bros locations in the chain,” Asher said in a statement.
Nearby tenants include Walmart Supercenter, Home Depot, Lowe’s, Kohl’s, Hobby Lobby, Michaels, Best Buy, Grocery Outlet, and Farmer Market. The property, near Victor Valley College, The Mall of Victor Valley, and Desert Valley Hospital, attracts about 1.3 million visitors a year, according ton Hanley Investment.
