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ARCO ampm Sale in Stockton Sets Three-Year Pricing Record
Hanley Investment Group Real Estate Advisors closed the $10.2-million sale of a newly constructed, single‑tenant, net‑leased ARCO ampm located at 9036 Thornton Rd. in Stockton. The sale marks a record price and price per square foot for a convenience store and fuel station transaction in California over the past three years, according to CoStar.
EVP Bill Asher and EVP and partner Jeff Lefko represented the seller, Promontory Development Group, a private developer based in the Sacramento metro area. The buyer, a private investor from the Bay Area, was represented by Andy Bogardus of Cushman & Wakefield in San Francisco.
“We generated multiple qualified offers from both private and institutional investors,” said Asher. “We procured an all‑cash 1031 exchange buyer based in the Bay Area who was a repeat buyer of convenience-store and fuel station assets familiar with the ARCO ampm brand and BP corporate net lease structure.”
- ◦Sale/Acquisition