Progressive Real Estate Partners Completes $6.1 Million Sale of Multi-Tenant Retail Center in Victorville
VICTORVILLE, Calif. (VVNG.com) – Progressive Real Estate Partners, a leading Inland Empire, California retail brokerage firm, announced the $6.1 million sale of Victorville Pavilion, a fully leased 11,618-square-foot multi-tenant retail center located at 14190 Bear Valley Road in Victorville, California to a private investor based in the San Diego area.
Built in 2004, Victorville Pavilion features several premier, service-oriented, and e-commerce resistant tenants including T-Mobile, OneMain Financial, Armed Forces Career Center, and Joe Orthodontics.
Progressive Real Estate Partners Vice President of Investment Sales Lance Mordachini represented the seller, a private investor. The buyer was represented by Vince Provenzano and Michael Sikorski of Pacific Coast Commercial.
“This transaction reflects continued investor demand for credit-oriented retail assets in growing Inland Empire submarkets, where fundamentals, yield, and tax efficiency continue to align,” said Mordachini. “The buyer was motivated by the combination of tenant credit, strong investment fundamentals, and accelerated depreciation with the intention of closing before the years end.”
Victorville Pavilion is ideally located adjacent to the Mall of Victor Valley, which draws over 4.5 million annual visitors, and along Bear Valley Road, the region’s primary east-west arterial with ±43,613 cars per day.
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