SBH Sells 7-Eleven-Occupied Property in Fontana, California for .1M

FONTANA, CALIF. — SBH Real Estate Group, a Los Angeles-based developer, has completed the sale of a retail building located at 17064 Sierra Lakes P...

November 15, 2022
6:14 AM

FONTANA, CALIF. — SBH Real Estate Group, a Los Angeles-based developer, has completed the sale of a retail building located at 17064 Sierra Lakes Parkway in Fontana. An undisclosed buyer acquired the asset for $5.1 million. 7-Eleven occupies the property under a 15-year ground lease and pays $205,000 per year, with scheduled rental bumps of 10 percent every five years. Situated on two acres, the property has 16 gas pumps and a 4,000-square-foot convenience store. Jeremy McChesney of Hanley Investment represented the seller, Eric Silverman of SBH, while Tom Carosella of Carosella Properties represented the buyer in the deal.

Amy Works