An LA investor recently closed a $6-million deal for South Sierra Plaza, an unanchored strip center located at 10660 South Sierra Avenue in Fontana. The 17,250-square-foot property traded at a 6.6% cap rate based on 93% occupancy and was represented by Progressive Real Estate Partners President Brad Umansky and investment sales advisor Lance Mordachini. Paul Galmarini and Albert Lopez of Progressive also handled the lease up of the center prior to listing, maximizing its value before sale. Cameron Diab from D & Z Properties acted as representative for the buyer during negotiations.
The 2006 built property is situated less than half a mile away from California’s heavily traveled 1-10 freeway with numerous national retailers such as Target, Ross Dress For Less, 24 Hour Fitness and TJ Maxx nearby it along Fontana’s retail corridor
