đź“Ť Pomona AutoZone Mega Hub Sells in $5.7M 1031 Exchange
Progressive Real Estate Partners has completed the sale of a single-tenant AutoZone Mega Hub located at 601 E. Holt Avenue in Pomona, California. The 30,000-square-foot property, which operates under a triple-net (NNN) lease with 18 years remaining, was sold for $5.7 million in a 1031 exchange transaction.
Brad Umansky, CCIM, president of Progressive Real Estate Partners, and senior investment sales advisor Lance Mordachini marketed the property and represented the seller—a private investor based in Southern California and a repeat client of the firm. The buyer, a Los Angeles-based developer and investor with a diversified portfolio of retail and multifamily assets across several states, was represented by Alex Smith of Rosewood Realty Corp.
AutoZone Mega Hubs serve as expanded-format stores designed to enhance the company’s distribution capabilities. These locations offer a full-service retail storefront and also function as mini-distribution centers, supporting nearby AutoZone locations with same-day replenishment. Mega Hubs stock up to 110,000 SKUs, significantly more than standard stores, ensuring efficient fulfillment across the region.
