Progressive Real Estate Partners closed the $6-million sale of South Sierra Plaza, a 17,250-square-foot unanchored strip center located at 10660 South Sierra Avenue in Fontana. The 12-unit center traded at a 6.6% cap rate based on 93% occupancy.   

President Brad Umansky and investment sales advisor Lance Mordachini represented the seller, a private Los Angeles investor who is also the original property developer. In addition, Progressive brokers Paul Galmarini and Albert Lopez handled the lease-up of the center, maximizing the property value prior to listing.  Cameron Diab of D & Z Properties represented the buyer, a private Los Angeles-based investor.  

Built in 2006, South Sierra Plaza is less than half a mile from the heavily traveled 1-10 freeway and is located along a major Fontana retail corridor with numerous national retailers including Target, Ross, 24 Hr. Fitness, TJ Maxx and many others surrounding the property.

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