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California  + Inland Empire  + Retail  | 

LA Investor Snags Unanchored Strip Center in Fontana 

Progressive Real Estate Partners closed the $6-million sale of South Sierra Plaza, a 17,250-square-foot unanchored strip center located at 10660 South Sierra Avenue in Fontana. The 12-unit center traded at a 6.6% cap rate based on 93% occupancy.   

President Brad Umansky and investment sales advisor Lance Mordachini represented the seller, a private Los Angeles investor who is also the original property developer. In addition, Progressive brokers Paul Galmarini and Albert Lopez handled the lease-up of the center, maximizing the property value prior to listing.  Cameron Diab of D & Z Properties represented the buyer, a private Los Angeles-based investor.  

Built in 2006, South Sierra Plaza is less than half a mile from the heavily traveled 1-10 freeway and is located along a major Fontana retail corridor with numerous national retailers including Target, Ross, 24 Hr. Fitness, TJ Maxx and many others surrounding the property.

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Progressive Real Estate Partners

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
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