VICTORVILLE, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, and Progressive Real Estate Partners, a boutique commercial brokerage firm specializing in the leasing and sales of retail properties in Southern California's Inland Empire, announced today that the two firms arranged the sale of Victor Town Center, a three-tenant net-leased retail property in Victorville, California, for $7 million.
The tenants include dd's DISCOUNTS (a division of Ross Stores, an S&P 500 and Fortune 500 company), a Department of Veterans Affairs Outpatient Clinic and a 16-stall Tesla Supercharger station, creating a diversified, e-commerce-resistant income stream within a junior-box-anchored retail property.
Hanley Investment Group's Vice President Ayda Kach and Senior Vice President Sean Cox, and Progressive Real Estate Partners' Greg Bedell, CCIM, Senior Vice President and Managing Director, represented the seller, PacWest Management Inc., a privately held retail real estate investment firm and developer based in Los Angeles. The buyer, an all-cash private investor from Los Angeles, represented themselves.
"We maximized value through a targeted marketing campaign highlighting the dominance of junior-box tenants in the High Desert," said Kach. "We generated competitive interest by procuring multiple offers from private investors and 1031 exchange buyers and secured an all-cash private buyer with other properties in Victorville."
"The VA's early 20-year renewal and dd's DISCOUNTS' option exercise underscore the strength of the location and the durability of the income stream in one of the High Desert's top-performing retail corridors," said Bedell. "These long-term commitments provide meaningful rent growth and stability, while the Tesla Supercharger station adds a modern traffic driver that reinforces the site's long-term relevance."
Located at 14598 7th Street in Victorville, the 47,650-square-foot property sits on 5.32 acres with dd's DISCOUNTS (25,720 square feet), a Department of Veterans Affairs Outpatient Clinic (21,930 square feet), and a 16-stall Tesla Supercharger station positioned within the property's parking field.
According to Kach, "With replaceable rents and a below-replacement-cost basis, the asset provides exceptional downside protection. Additional upside includes the ability to adjust rents to market levels in 2037 and to enclose 3,750 square feet of former garden center space for future income."
Bedell reports that the property is located along a high-traffic retail corridor surrounded by nationally top-performing retailers, including Costco (top 5% nationwide), AutoZone (top 1%), McDonald's (top 3%) and In-Shape Health Club (top 4%). The immediate intersection has experienced significant recent investment with the addition of Superior Grocers, Harbor Freight and Western Dental, strengthening the surrounding tenant mix and consumer draw.
More than $600,000 in recent capital improvements were completed, including new roofing systems, LED parking lot lighting and a resurfaced parking lot. Positioned along 7th Street and La Paz Drive with approximately 24,280 vehicles per day and less than 0.4 miles from Interstate 15, the site benefits from strong visibility and regional accessibility. Victorville ranks #13 on SmartAsset's list of Top 100 Boomtowns in America and serves as the primary commercial hub for the 600,000+ residents of the Victor Valley.
"Victorville continues to demonstrate strong retail fundamentals, and this transaction reflects the depth of private-capital demand for well-located, credit-anchored assets in the High Desert," said Kach. "We're pleased to have delivered a smooth process and a successful outcome for our client."
"This sale underscores the strong investor appetite for stabilized, necessity-based retail with durable tenancy and below-replacement-cost fundamentals," said Bedell. "The combination of long-term lease commitments, national credit anchors and recent capital improvements positions the property for continued performance in this corridor."
About Progressive Real Estate Partners
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California's Inland Empire, San Gabriel Valley and Coachella Valley. The office is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm's inception Progressive has completed over 1,650 lease and sales transactions valued at more than $1.8B in 35+ cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their commercial real estate goals.
See: www.progressiverep.com.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a transaction track record exceeding $12.7 billion, specializing in the sale of retail properties nationwide. The firm's expertise, proven track record spanning more than 20 years, and dedication to putting clients' needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through property-specific marketing strategies, cutting-edge technology and local market knowledge. Hanley Investment Group's relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestmentgroup.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Ayda Kach, Vice President
Email: Send Email
Phone: 949.585.7649
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
