Business
Hanley Investment Group Completes 7th Property Sale at Sprouts-Anchored Shopping Center in Fontana, Calif.

COMMERCIAL REAL ESTATE TRANSACTION ALERT
Single-Tenant Sit ‘n Sleep Sells for $3,250,000 in the Break-up Strategy Executed at Highland Village Shopping Center
Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm has arranged the sale of a new construction, single-tenant retail building occupied by Sit ‘n Sleep at Highland Village Shopping Center, a new Sprouts-anchored shopping center in Fontana, California. Hanley Investment Group has sold a total of $30 million in retail properties at Highland Village Shopping Center in Fontana, California.
Hanley Investment Group’s Executive Vice Presidents Kevin Fryman, Bill Asher and Jeff Lefko represented the seller, Adler Realty Investments, who completed the ground-up shopping center development in 2018-2019. The buyer was a private 1031 exchange investor based in the Inland Empire.
The sale of the single-tenant, triple-net leased 8,400-square-foot retail property occupied by Sit ‘n Sleep and built in 2019 is situated on 1.03 acres adjacent to Sprouts at 16948 S. Highland Avenue. The purchase price was $3,250,000.
Sit ‘n Sleep is the largest family-owned mattress retailer in California and was founded in 1979 by Larry Miller and his father Phillip Miller. Today, the chain is run by Larry Miller as CEO and Nelson Bercier, Sit ‘n Sleep President who work in tandem to manage the day-to-day operations. Now, the 41-year-old company has 36 stores located throughout Southern California.
“Sit ‘n Sleep benefitted when consumers started investing in new mattresses and furniture during the COVID-19 pandemic shutdowns and we anticipate that consumers’ focus on the home will continue, and that will bring more spending on home products like mattresses,” noted Fryman.
In addition to a 30,000-square-foot Sprouts Farmers Market, the shopping center includes Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, Café Rio, Oggi’s Restaurant, Pacific Dental, Quick Quack Car Wash, Mountain View Tire & Auto Service. The shopping center is immediately adjacent to the 210 Freeway at the Sierra Avenue entrance/exit.
Last year, Hanley Investment Group’s Fryman, Asher and Lefko arranged the sales of a 7,500-square-foot multi-tenant retail shop building adjacent to Sprouts and a new Quick Quack Car Wash ground lease at the Highland Village Shopping Center. Hanley Investment Group’s sale of Quick Quack Car Wash was the first single-tenant Quick Quack to sell as a net-leased investment in California. In 2019, Fryman, Asher and Lefko arranged the sales of Sprouts, Mountain View Tire & Auto Service, Raising Cane’s and Jack in the Box, each as separate, single-tenant transactions at Highland Village Shopping Center.
“We were able to maximize value for the seller through individual sales to private, non-institutional investors in a price range of $2 million to $10 million, a price range that greatly appeals to the largest buyer pool in the retail investment industry,” said Asher. “Investors recognized that this shopping center and its location and demographics offered long-term security and stability in a growing area.”
Asher noted there are 325,000 people within a 5-mile radius and an average household income of $89,000 within a 1-mile radius of the shopping center.
The sale of Sit ‘n Sleep in Fontana marks the second sale of a single-tenant mattress investment sold in California since March of 2020. Hanley Investment Group also sold the previous single-tenant mattress investment property, a Mattress Firm in Mountain View.
Business
Supported by Local Leaders, CALED’s Annual Conference will be in Ontario this May

Empowering Economic Growth: CALED Conference Set to Unite Industry Leaders in Ontario
CALED’s ‘Growing Local Economies from the Ground Up’ Conference is being held in Ontario at the DoubleTree by Hilton Hotel Ontario Airport on May 7-9. This event is co-hosted by the City of Ontario and San Bernardino County, with Jennifer McLain Hiramoto, CALED’s Chair of the Board and Derek Armstrong respectively representing their city and county as Co-Chairs of the event.
With over 950 members and 45 years of empowering economic developers, CALED is the largest economic development association in the country and the annual conference is the number one place to meet and connect with the boots-on-the -ground, decision makers in our communities.
The conference will include a pre-conference teaching tour, ‘Building & Paying for Development Projects’ on May 6th and then begin in full on May 7th, with a welcome session and breakouts. Overall, there will be four general assembly sessions and 18 breakout sessions, which will delve into local economic development practices and innovative tools.
In addition to compelling content, the conference will have numerous opportunities to connect with community leaders and valued peers through networking receptions, the culinary crawl, and new this year, the Tournament of Champions, where conference attendees will navigate a gauntlet of games to win the grand prize on the evening of Thursday, May 8th.
To learn more about the conference and register, visit the CALED website at www.caled.org.
Business
Strengthening Community Connections: Our Exciting New Partnership with Toyota Arena, Ontario Convention Center, and GOCAL

Contributed Content | By Chris Venhoff, Senior Vice President and Inland Empire Market Leader for Consumer and Business Banking at U.S. Bank
As the Inland Empire market leader for U.S. Bank, I’m thrilled to share some exciting news: we are proud to be the Official Bank Partner of Toyota Arena and Ontario Convention Center. This partnership represents a reflection of our deep commitment to the Inland Empire and our dedication to fostering a vibrant, thriving community.
At U.S. Bank, we believe that strong partnerships drive meaningful progress. Toyota Arena and Ontario Convention Center are at the heart of the region’s culture and economy, bringing people together for world-class entertainment, business conventions, and community events. By joining forces, we’re not only expanding our presence but also creating opportunities to engage with residents, businesses, and organizations in ways that make a lasting impact.
Through our sponsorship, we’ll support concerts, sporting events, and conventions that showcase the diversity and energy of the Inland Empire. But this is only the beginning. As our partnership evolves, we’ll work closely with Toyota Arena, Ontario Convention Center, and GOCAL to introduce community-focused programs, including financial literacy workshops and charitable giving initiatives.
This partnership is designed to bring added value to the people we serve. For our customers, we’re introducing the U.S. Bank Fast Pass Lanes, providing priority access at Toyota Arena events. Special offers, exclusive event experiences, and tailored financial solutions for businesses operating in the region are just a few of the many perks we’re excited to roll out.
Our employees are at the core of our success, and this partnership allows us to recognize their dedication. Through exclusive access to events, corporate hospitality opportunities, and community volunteer programs, our team will have new ways to engage with and celebrate the community they serve.
The Inland Empire is a dynamic, fast-growing region, and we’re committed to supporting its continued success. By investing in Toyota Arena and Ontario Convention Center, we’re helping to create and sustain jobs while driving local business growth. These venues bring in visitors, revenue, and visibility, strengthening the region’s economy.
This collaboration is about more than just sponsorship—it’s about making a difference. By working together, we can elevate not just these venues but the entire Inland Empire. At U.S. Bank, we’re committed to being a partner in progress, supporting our customers, businesses, and communities every step of the way.
Business
Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala

Honoring Visionary Leaders Driving Innovation and Community Impact
The Spirit of the Entrepreneur Awards Gala, held at the Riverside Convention Center, celebrated the brightest entrepreneurial talent across the Inland Empire. Among the evening’s finalists was Edward Ornelas, Jr., President & CEO of the Inland Empire Regional Chamber of Commerce, who was honored in the Social Entrepreneur category for his outstanding leadership and commitment to the region.
Although Ornelas did not win, the Social Entrepreneur award went to Cesar Navarrete, President & CEO of Children’s Fund, a proud Chamber member. “Being a finalist alongside such remarkable leaders is an incredible honor,” said Ornelas. “I am especially thrilled to see Cesar, a Chamber member, recognized for the transformative work he’s doing to improve the lives of children in our community. It’s a proud moment for us all.”
Another highlight of the evening was the recognition of Hilda Kennedy, President & Founder of AMPAC Business Capital, another Chamber member, who was awarded the Top Female Entrepreneur category. Hilda’s leadership at AMPAC, a mission-driven business lender, has been instrumental in empowering small businesses and fostering economic growth across the region.
“It’s amazing to see leaders like Hilda and Cesar being celebrated for their contributions,” added Ornelas. “Their achievements underscore the talent and dedication of entrepreneurs in our Chamber and across the Inland Empire. They are setting the standard for excellence and impact in their fields.”
The evening also featured the prestigious “Best of the Best” Award, sponsored by Best Best & Krieger LLP, which was awarded to Mauro Gomez, Chief Growth Officer of Anita’s Mexican Foods Corp.. Based in San Bernardino, Anita’s Mexican Foods has grown from modest beginnings into a leader in the food production industry under Gomez’s strategic direction.
The Spirit of the Entrepreneur Awards Gala continues to shine a spotlight on the transformative work of Inland Empire entrepreneurs, celebrating their innovation, resilience, and commitment to the community.
For more information about the Spirit of the Entrepreneur Awards, visit https://www.spiritawardsie.com.
For more details about the Inland Empire Regional Chamber of Commerce and its members, visit www.iechamber.org.
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