Private 1031-exchange Investor Acquires Property At 16948 S Highland Ave, Fontana For $3.2M

A single-tenant retail building was sold at 16948 S Highland Ave, Fontana, CA, within the Fontana market. The property, which encompasses 8,400 square feet, was sold for $3,200,000. The asset is currently leased to Sit ‘n Sleep under a triple-net-lease agreement and was built in 2019. It is part of the Highland Village Shopping Center, which also includes various other tenants such as Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, and Sprouts Farmers Market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,200,000
• Square Footage: 8,400
• Buyer: Private 1031-exchange Investor
• Seller: Adler Realty Investments
• Market: Fontana
• Seller's Representative: Kevin Fryman (Hanley Investment Group - Real Estate Advisors)

The transaction involved Kevin Fryman, Bill Asher, and Jeff Lefko from Hanley Investment Group, who represented the seller in the deal. The property is situated within a shopping center that was developed by the seller between 2018 and 2019.