Promontory Development Group Sells Retail Property In Stockton For $10.2 Million

The asset involved in this transaction is a retail property located at 9036 Thornton Road in Stockton. The sale was completed at a price of $10,200,000, reflecting a price per square foot of $3,000. The property spans 3,400 square feet and sits on 1.48 acres. It operates under a 15-year absolute NNN lease guaranteed by BP Products North America.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,200,000
• Address: 9036 Thornton Road
• Market: Stockton
• Asset Size: 3,400 SF
• Price per Square Foot: $3,000
• Seller: Promontory Development Group
• Buyer's Representative: Andy Bogardus - Cushman & Wakefield
• Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group

This transaction marked a significant milestone, as Hanley Investment Group facilitated the sale of a newly built single-tenant ARCO ampm, achieving the highest price and price-per-square-foot for a California convenience store and fuel station in the past three years. The buyer is a Bay Area private investor, who was represented by Cushman & Wakefield in this deal.