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February 24, 2018
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SOUTHERN CALIFORNIA NEWS
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Circle K and Chevron Acquire Development Parcels in the High Desert Region

2/06/18

We’ve got news of two parcels of land in the Inland Empire that were acquired by Circle K and Chevron in separate deals totaling $4.8 mil. Both properties are located adjacent to the heavily traveled I-15 Fwy in the High Desert region, with one of the sites in Victorville and the other in Hesperia. Pablo Velasco with Progressive Real Estate Partners represented the sellers in both transactions.

In Victorville, Circle K purchased a three-acre parcel for $2.85 mil in an all-cash transaction. The company plans to build a full service convenience store, gas station and car wash on the land, located at the 15 Fwy and Nisqualli Rd. The development is projected to open in mid-2018.

Progressive Real Estate Partners is also currently marketing a one-acre parcel next to the Circle K, which is perfectly suited for a drive-thru restaurant, tire store or auto service user.

Ranchero Crossings, Hesperia
Ranchero Crossings, Hesperia
In the Hesperia deal, a multi-store, Chevron franchisee purchased a 1.20-acre, freeway-adjacent parcel for $1.95 mil. The parcel is part of the Ranchero Crossings development located at the new Ranchero Rd off-ramp. The off-ramp is the first northbound exit on the I-15 in Hesperia and is right before the fork to Las Vegas on the I-15 or Mammoth on US 395.

The Chevron station will also include a convenience store and car wash and is projected to open in mid-2018. In addition to Chevron, Ranchero Crossings also features a newly opened drive-thru Starbucks and a 76 Service Station with a Circle K Convenience store plus five other parcels ranging in size from .75 to 45 acres.

The remaining parcels are ideally suited to accommodate a large shopping center, entertainment venue or medical facilities. A number of new developments are planned in the trade area including Tapestry, which is an approximately 16,000-unit, master-planned residential community.

According to Velasco, “The I-15 is a major freeway connecting Riverside and San Bernardino Counties to the High Desert and Las Vegas. This was an excellent opportunity for Circle K and Chevron to acquire freeway adjacent parcels and expand their presence in the High Desert.” He added, “The High Desert region of SoCal’s Inland Empire is in the midst of a population and building boom and we expect to see continued growth and demand for new retail and service options in the region.”





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