Hanley Investment Group Real Estate Advisors has arranged the sale of Apple Valley Towne Center, a newly built regional shopping center in Apple Valley. The property totals 87,042 square feet and is located at 19390 Bear Valley Rd. The center was delivered in 2026 and brought to market before the tenants opened for business.
Apple Valley Towne Center is fully leased to three national junior box retailers: Hobby Lobby, Marshalls and Five Below. The shopping center is also shadow anchored by Stater Bros. Markets, Lowe’s Home Improvement and Walgreens, which sit adjacent to the property and contribute to the overall retail draw of the location. At the time of sale, the center was reported to be 100% occupied.
Executive vice presidents Kevin Fryman and Bill Asher, along with senior vice president Sean Cox, led the assignment for Hanley Investment Group. The team represented the seller and developer, Rich Development Enterprises of San Pedro. The buyer was not disclosed, and the purchase price was also not released.
Fryman noted that the team listed the property before the tenants commenced operations, which provided the center with early visibility among prospective investors. According to Fryman, this timing helped generate significant interest from a range of buyer profiles, including private, mid-market and institutional capital. The marketing effort presented the assets both as individual offerings and as a combined three-tenant package, which broadened the potential buyer pool.
Completed in 2026, the shopping center is structured with new long-term triple-net leases to its junior box tenants. These leases include scheduled rental increases every five years, providing built-in rent growth over the term of the agreements. The fully leased status, national tenant lineup and long-term NNN lease structure position Apple Valley Towne Center as a stabilized income-producing retail asset at the time of the transaction.
The combination of national junior box retailers and shadow anchors such as a supermarket, home improvement store and pharmacy chain underscores the property’s role as a regional shopping destination. While specific transaction metrics were not disclosed, the sale reflects ongoing investor activity targeting newly constructed, fully occupied retail centers with long-term leases in place.
