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Tuesday, November 19, 2019
Commercial Real Estate

Progressive Real Estate Partners Completes Anchor Re-tenanting with Dollar Tree Lease Signing in Fontana, CA

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Rancho Cucamonga, CA – November 4, 2019 – Progressive Real Estate Partners, the leading Inland Empire retail brokerage firm, announced today that it has executed a lease with Dollar Tree for a 12,430 square-foot space at 14574 Baseline Avenue in Fontana, California. 

The store will be located in the well-established Morningside Marketplace shopping center.  Dollar Tree will occupy a portion of the former Ralphs Grocery store which closed in early 2013. Chuze Fitness (previously announced) will occupy the balance of the Ralphs space.  Both are expected to open by mid-2020 making it the first time in 7 years that the popular neighborhood center will have an anchor presence.

Progressive Real Estate Partners’ VP of Retail Leasing and Sales Paul Su exclusively marketed the property and represented the lessor. Lee Clay Park of Edge Realty represented Dollar Tree.

Dollar Tree is a well-known leading operator of discount variety stores offering a constantly changing assortment of merchandise including housewares, cleaning supplies, seasonal décor, party items, toys, gifts, craft supplies and food all at a price point of $1 (or less).  The company has over 15,000 stores and operates under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada.

The 90,000 square-foot Morningside Marketplace is conveniently situated at a busy four-way signalized intersection with excellent monument signage and visibility on both Baseline and Cherry Avenues with a combined average daily traffic count of over 50,000 cars.  In spite of not having the benefit of an anchor tenant for an extended period of time, the shop and pad space is almost 100% leased to a variety of food and service users including Chase Bank, Great Clips, Chevron, KFC, Pizza Hut, Baskin Robbins and Wienerschnitzel further demonstrating the strength of the location.  The center also enjoys strong demographics of over 253,000 residents with an average household income of more than $85,422 within a 5-mile radius.

“We’re excited to welcome Dollar Tree to the center. Today’s value minded customer appreciates the wide assortment of every day merchandise available at the store making it a perfect addition to the retail mix at Morningside Marketplace,” according to Paul Su.  “Furthermore, the community has waited a long time for the former Ralphs store to be leased and we couldn’t be more pleased that both Dollar Tree and Chuze Fitness recognized the strength of the center and will be opening soon.  It’s also good news for the other shopping center retailers to finally have new anchor tenants which will help drive more traffic and sales to the property,” Su added

 

About Progressive Real Estate Partners

Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California’s Inland Empire market.  The office is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 1,000 lease and sales transactions in over 35 cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals. For further information visit www.progressiverep.com.

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Inland Empire Business Journal
The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering Riverside and San Bernardino Counties.