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California  + Los Angeles  + Net Lease  | 

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 PomonaThe 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. 

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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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