Progressive Real Estate Partners arranged the off-market sale of Allmark Plaza, a neighborhood retail center in Rancho Cucamonga, for a reported $6 million. The 16,926-square-foot, multi-tenant property is located at 10060-10080 Arrow Route and was acquired by a private investor based in Orange County. The seller, Allmark Property Management, handled its own representation in the transaction.
According to Progressive Real Estate Partners, the buyer was represented by VP of investment sales Lance Mordachini and VP of retail leasing and sales Monica Dal Bianco-West. The brokerage team positioned the center as an unanchored but fully leased neighborhood asset with characteristics aligned to current private-capital demand, including consistent occupancy history and diversified income streams.
Allmark Plaza is described as an unanchored, multi-tenant neighborhood center that has maintained strong historical occupancy. The rent roll is characterized as diverse and composed of tenants paying what the brokerage considers to be replaceable rents. At the time of sale, the property was reported to be 100% occupied, with tenants ranging from Domino’s Pizza to a dental office, supporting a service- and food-oriented merchandising mix.
The buyer reportedly underwrote the acquisition at a 6.91% capitalization rate based on the in-place income at the $6 million purchase price. Progressive Real Estate Partners viewed the pricing and going-in yield as offering a compelling risk-return profile for a stabilized retail asset in a core Rancho Cucamonga location. The transaction illustrates ongoing buyer focus on income durability, tenant diversification, and the ability to re-lease space at similar rent levels if needed.
Built in 1986, Allmark Plaza is positioned with convenient access to the I-10 and I-210 freeways, enhancing its regional connectivity and daily traffic exposure. The combination of freeway access, established tenancy, and fully leased status was cited as a key factor in the buyer’s decision to pursue the center off-market rather than through a broader marketing process. Both parties completed the transaction without the involvement of a publicly identified institutional equity partner or lender in the announcement.
The sale of Allmark Plaza adds to a pipeline of smaller neighborhood retail trades where private investors are targeting stabilized, service-oriented centers in established suburban locations. While specific financing and business-plan details were not disclosed, the transaction underscores continued investor appetite for fully occupied neighborhood retail properties with perceived long-term income durability.
