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11/11/24
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G & M Oil Company purchased a Chevron Station, ExtraMile Convenience Store and Express Car Wash in the Inland Empire city of Highland in a recent $9.5 mil all-cash deal. The purchase included both the business and the real estate, located at 27981 Greenspot Rd.
The property is an outparcel to the popular Highlands Crossing regional shopping center that is directly adjacent to the 210 Fwy and home to Lowe’s, Esporta Fitness, In N Out Burger, Wingstop, Jersey Mikes and many other national and regional tenants.
Built in 2012, the well-maintained property features a high-volume Chevron station with eight dispensers (pumps), a self-service express car wash and an approximately 3k sf ExtraMile convenience store that has a type 20 beer/wine license and sells a variety of grab and go snacks. Conveniently positioned at a signalized entrance to the shopping center, the station offers multiple points of access.
The center is located in a high-growth area with a current population of over 66,000 people and an average household income of $113,800 within a 7-minute drive. There are several new developments planned for the area including a mixed-use retail and residential project directly across the street from the site that will include 1,000+ residential units and a Costco and Stater Bros. anchored shopping center.
Victor Buendia with Progressive Real Estate Partners represented the seller, a San Diego-based investor in the private sale. Scott Olson from C-Store Realty repped the buyer, which is the largest Chevron franchisee in California with over 200 locations.
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