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California  + Los Angeles  + Net Lease  | 

Triple-Net LA Retail Plaza Sells to Local Investor

Progressive Real Estate Partners arranged the $3.5-million all-cash sale of a 7-Eleven anchored triple-net retail strip center at 728 W. Vernon Ave. in Los Angeles. The 6,300-square foot, three-tenant center is fully leased. 

President Brad Umansky, CCIM and investment sales advisor Lance Mordachini represented both parties in the transaction.  The seller was a Los Angeles County-based private investor and repeat client of Progressive Real Estate.  The buyer was a private Los Angeles County-based investor and business operator who also owns other retail properties in the trade area. 

 Mordachini said, “The 7-Eleven corporate lease and high-density Los Angeles trade area sparked a lot of interest resulting in multiple offers for the property. We were able to identify a highly qualified and motivated cash buyer with a proven track record in the trade area and went from listing to close in just 74 days.” 

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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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