Rialto ALDI & WSS, two-tenant retail property sells for $8.8 Million
RIALTO — 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, along with Progressive Real Estate Partners, completed the sale of a new-construction, two-tenant retail building occupied by ALDI grocery store and WSS shoe store in Rialto, California. The sale price was $8,775,000.
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Hanley Investment Group’s Executive Vice President Bill Asher and Vice President Jeff Lefko, along with Progressive Real Estate Partners Vice President Greg Bedell, represented the seller, a private partnership from Los Angeles. The buyer, a private investor from Southern California’s San Fernando Valley, was represented by Doug Cole, a senior associate with Marcus & Millichap in Los Angeles.
Hanley Investment Group photo
Built in 2018, the 31,271-square-foot building is located on 2.46 acres at 630-660 W. Foothill Blvd., at the signalized intersection of Foothill Blvd. (Highway 66) and Cactus Ave. with average daily traffic counts of 33,000 cars per day. The new-construction building includes an 18,841-square foot ALDI store and a 12,430-square-foot WSS. The ALDI has a corporate-guaranteed long-term ground lease with fixed increases every five years and options to renew. WSS, which relocated from a smaller location in Rialto it had occupied for approximately 15 years, has a corporate-guaranteed long-term lease with fixed increases and options to renew.
A leader in the grocery retailing industry since 1976, ALDI operates more than 1,900 U.S. stores in 36 states. More than 40 million customers each month benefit from the simple, streamlined approach ALDI brings to retailing. ALDI sells frequently purchased grocery and household items, primarily under its exclusive brands, and these products are designed to meet or exceed national name brands on taste and quality. Among its ALDI-exclusive products, 1 in 5 is award-winning. For the eighth year in a row, ALDI was recognized as the value leader among U.S. grocery stores by a Market Force Information® survey of U.S. consumers.
WSS is a premier footwear and apparel retailer in the U.S. Based in Southern California, WSS’ large store format enables the company to showcase thousands of styles from top name brands which include: Nike, Jordan, Adidas, Vans, Converse, Puma, Reebok, Fila, and Timberland. In addition, WSS carries high-quality private brands augmenting the breadth of selection to deliver amazing value to its customers. WSS president Rick Mina and his team have led the fast-growing athletic specialty chain to 84 stores, with plans to have more than 100 by the end of next year, according to Footwear News. The c ompany has expanded into Texas, Arizona and Nevada, and is on pace to hit $350 million in sales.
Submitted by Hanley Investment Group
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Trevor Montgomery, 48, moved last year to the Intermountain area of Shasta County from Riverside County and runs Riverside County News Source and Shasta County News Source. Additionally, he writes or has written for several other news organizations; including Riverside County based newspapers, Valley News, (the now defunct) Valley Chronicle, Anza Valley Outlook, and Hemet & San Jacinto Chronicle; as well as Bonsall/Fallbrook Village News in San Diego County and Mountain Echo in Shasta County.
Trevor spent 10 years in the U.S. Army as an Orthopedic Specialist before joining the Riverside County Sheriff’s Department in 1998. He was medically retired after losing his leg, breaking his back, and suffering both spinal cord and brain injuries in an off-duty accident. (Click here to see segment of Discovery Channel documentary of Trevor’s accident.)
During his time with the sheriff’s department, Trevor worked at several different stations; including Robert Presley Detention Center, Southwest Station in Temecula, Hemet/Valle Vista Station, Ben Clark Public Safety Training Center, and Lake Elsinore Station; along with other locations.
Trevor’s assignments included Corrections, Patrol, DUI Enforcement, Boat and Personal Water-Craft based Lake Patrol, Off-Road Vehicle Enforcement, Problem Oriented Policing Team, and Personnel/Background Investigations. He finished his career while working as a Sex Crimes and Child Abuse Investigator and was a court-designated expert in child abuse and child sex-related crimes.
Trevor has been married for more than 29 years and was a foster parent to more than 60 children over 13 years. He is now an adoptive parent and his “fluid family” includes 13 children and 15 – but soon to be 16 – grandchildren.