Progressive Real Estate Partners Sells South Sierra Plaza In Fontana For $6M

Progressive Real Estate Partners has closed a $6 million sale of South Sierra Plaza, a 17,250 square-foot unanchored strip center located at 10660 South Sierra Avenue in Fontana, California. The property boasts a diverse tenant mix and is conveniently situated near major retail outlets and the Interstate 10 Freeway. The sale price translates to a price per square foot of $348, and the transaction achieved a 6.6 percent cap rate based on the center's 93 percent occupancy rate.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $6,000,000
• Address: 10660 South Sierra Avenue
• Market: Fontana

The buyer's representative for this transaction was Cameron Diab from D & Z Properties, while the seller's representatives were Lance Mordachini from Progressive Real Estate Partners and Brad Umansky. Cameron Diab represented the buyer, and Lance Mordachini and Brad Umansky represented the seller in this successful deal.