Progressive Real Estate Partners has closed the $6-million, off-market acquisition of Allmark Plaza, 16,926-square-foot multi-tenant unanchored neighborhood retail center located at 10060-10080 Arrow Route in Rancho Cucamonga, to an Orange County-based private investor. VP of investment sales Lance Mordachini and VP of retail leasing and sales Monica Dal Bianco-West represented the buyer. The seller, Allmark Property Management, represented itself.
“The buyer was attracted to Allmark Plaza because it checked the boxes that matter most in today’s market: strong historical occupancy, replaceable rents, a diverse rent roll, and a quality Rancho Cucamonga location,” said Mordachini. “At a $6 million purchase price and a 6.91% cap rate, we viewed this as a compelling opportunity to acquire a well-located, fully occupied retail asset with durable long-term fundamentals.”
Built in 1986, Allmark Plaza offers convenient access to the I-10 and I-210 Freeways. The center is 100% occupied by a diverse tenant mix ranging from Domino’s Pizza to a dental office.
