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Progressive Completes Fontana Tutor Time Sale
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A single-tenant Tutor Time Learning Center located at 14273 Baseline Ave. in Fontana, CA has sold for $4.6M in an all-cash 1031 exchange transaction. The well-established location is one of the top performing Tutor Time childcare centers in the Inland Empire, with a successful operating history of over 15 years at this location.
The 10,492-square-foot facility was built in 2003, and is directly adjacent to Heritage Village, a 110,000-square-foot neighborhood center.
Progressive Real Estate Partners’ Frank Vora marketed the property and represented the unnamed seller, a San Diego County-based private investor. The buyer, an undisclosed Los Angeles-based private investor, was represented by Chris Wen of Walton Realty.
Vora worked with the seller and tenant to negotiate an early 5-year extension of the corporate lease, resulting in nearly 10 years of primary lease term, which adding value to the asset. The deal also included two 5-year options and annual rent increases.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
