Apple Valley Towne Center, an 87,042 SF Retail Property, Changes Hands in San Bernardino County

Apple Valley Towne Center, a recently completed 87,042-square-foot regional shopping center in Apple Valley, California, has been sold. Located on a 7.9-acre site at 19390 Bear Valley Road in San Bernardino County, the property was fully leased at the time of the transaction. The seller and developer, San Pedro-based Rich Development Enterprises, was represented by Kevin Fryman, Bill Asher, and Sean Cox of Hanley Investment Group Real Estate Advisors. Details regarding the buyer and the final sales price were not disclosed.

The retail center features three national junior box tenants: Hobby Lobby, Marshalls, and Five Below, all operating under new initial long-term triple-net leases with scheduled rental increases every five years. Additionally, the property benefits from shadow anchors including Stater Bros. Markets, Lowe’s, and Walgreens. This sale highlights continued investor interest in fully leased, newly developed retail assets in California's High Desert region.