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Pomona AutoZone Mega Hub Changes Hands in 1031 Deal
Progressive Real Estate Partners closed the sale of a single-tenant NNN AutoZone Mega Hub located at 601 E. Holt Ave. in Pomona. The 30,000-square-foot building, which has 18 years remaining on its lease, sold for $5,700,000 in a 1031 exchange.
President Brad Umansky, CCIM, and senior investment sales advisor Lance Mordachini of Progressive marketed the property and represented the seller, a private Southern California-based investor and repeat client. Alex Smith of Rosewood Realty Corp. represented the buyer, a private Los Angeles-based developer and investor who owns a portfolio of retail and multifamily assets in multiple states.
AutoZone Mega Hubs are larger format stores within AutoZone’s network that feature a full-service retail storefront and function as a mini-distribution center for satellite stores in the surrounding region, enabling AutoZone to provide fast replenishment and fulfillment of parts as needed. These Mega Hubs carry an expanded inventory of up to 110,000 SKUs.
- ◦Sale/Acquisition


