IE Business Daily Business news for the Inland Empire.
Progressive Real Estate Partners in Rancho Cucamonga has helped negotiate the sale of a building in Pomona occupied by AutoZone.
The 30,000-square-foot structure at 601 E. Holt Ave, which is also a distribution center for nearby stores, sold for $5.7 million, according to a statement on Progressive’s website.
Progressive marketed the property and represented the seller, a Southern California investor whose name was not released. Rosewood Realty Corp. represented the buyer, a private Los Angeles-based developer-investor who also wished to remain anonymous.
The store, known as a Mega Hub, opened two years ago, and has 18 years left on its lease. It is a full-service retail operation, but has a larger inventory than most AutoZone stores.
It supplies 18 stores with parts and other accessories.
Progressive received seven offers on the property during the first 10 days it was on the market, including several all-cash offers, according to the statement.
