Hanley Investment Group Real Estate Advisors has arranged the $9.3 million sale of a Sprouts-anchored retail property in Victorville, described as one of the fastest-growing markets in Southern California. The asset includes a 21,000-square-foot junior box space that presents a lease-up opportunity for the new owner.
Senior Vice President Sean Cox and Executive Vice President Kevin Fryman of Hanley Investment Group represented both the seller and the buyer in the transaction. The seller is a private advisory and investment firm based in Los Angeles, while the buyer is California Gold Development Corp., a private commercial real estate investment and development company headquartered in Sonora and a repeat client of Hanley.
According to Fryman, the combination of a top-performing Sprouts, a sizable junior box vacancy, freeway visibility, and a dense, expanding trade area made the property particularly attractive to investors. He noted that the buyer engaged a national tenant while the deal was still in escrow, creating an opportunity to execute a lease during the closing process and address a portion of the center’s lease-up potential.
The property is located at 12450 Amargosa Rd. within Village Center, a 350,000-square-foot community center in Victorville. The Sprouts store serves as the anchor tenant for the retail property, positioning the asset to benefit from both essential-grocery traffic and broader regional retail demand.
The involvement of a repeat client like California Gold Development Corp. underscores ongoing investor interest in grocery-anchored shopping centers, particularly in high-growth trade areas where expansion in population and retail demand can support both current income and future leasing gains. Hanley Investment Group’s dual representation role in the transaction also highlights the continued presence of experienced investment sales advisors in arranging trades of well-located retail assets across Southern California.
