Red Mountain Group Inc., a retail redevelopment and operation company based in Orange County, recently sold a 16,560-square-foot Dollar Tree property in Rancho Cucamonga for $4.88 million to Celery Realty Investments LLC. The property was acquired earlier this year as part of a larger portfolio from Big Lots, Inc., with 13 of the empty stores already leased or in negotiations.
Progressive Real Estate Partners’ Brad Umansky, CCIM, Greg Bedell and Lance Mordachini exclusively represented Red Mountain Group while Katherine Quach and Wendy Wong of Treelane Realty Group represented the buyer.
According to Mordachini, the buyer was drawn to the prime location in Rancho Cucamonga as well as Dollar Tree’s corporate-backed lease structure with minimal management responsibilities. This successful transaction showcases Red Mountain Group’s expertise and strategic approach towards retail properties without mentioning any specific brands or companies involved.
