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Red Mountain Offloads NNN Dollar Tree in Rancho Cucamonga
Red Mountain Group Inc., an Orange County-based retail redeveloper and operator, sold a 16,560-square-foot, triple-net-leased Dollar Tree located in Rancho Cucamonga for $4.88 million to Celery Realty Investments LLC.
This Rancho Cucamonga property was purchased earlier this year by Red Mountain Group as part of a larger portfolio of 20 empty retail big box stores from Big Lots, Inc. Since that purchase, 13 of the empty stores have been leased or are in lease negotiations, with eight of the leases being executed prior to close of escrow.
Red Mountain Group was represented exclusively by Progressive Real Estate Partners’ Brad Umansky, CCIM, Greg Bedell and Lance Mordachini. Katherine Quach and Wendy Wong of Treelane Realty Group represented the buyer.
Mordachini said, “The buyer was attracted to the excellent Rancho Cucamonga location, corporate- backed Dollar Tree lease and the NNN lease structure offering minimal management responsibilities.”
- ◦Sale/Acquisition


