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California  + Bay Area  + Net Lease  | 

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.”

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Hanley Investment Group Real Estate Advisors

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition