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12/01/23
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A 16.6k sf single-tenant, net-leased Dollar Tree in Rancho Cucamonga was purchased for $4.88 mil by Celery Realty Investments LLC. The property was sold by Red Mountain Group, who acquired it earlier this year as part of a larger portfolio of 20 empty retail big box stores from Big Lots Inc.
Since that portfolio buy, 13 of the empty stores have been leased or are in lease negotiations with eight of the leases being executed prior to close of escrow. The new leases include: two Grocery Outlet Stores; three Savers stores; two Red, White, & Thrift stores; one Planet Fitness; one Ace Hardware (Westlake); and one Dollar Tree store, with more credit tenants coming soon.
Red Mountain Group Inc was represented by Brad Umansky of Progressive Real Estate.
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