Hanley Investment Group Real Estate Advisors closed the $10.2-million sale of a newly constructed, single‑tenant, net‑leased ARCO ampm located at 9036 Thornton Rd. in Stockton. The sale marks a record price and price per square foot for a convenience store and fuel station transaction in California over the past three years, according to CoStar.
EVP Bill Asher and EVP and partner Jeff Lefko represented the seller, Promontory Development Group, a private developer based in the Sacramento metro area. The buyer, a private investor from the Bay Area, was represented by Andy Bogardus of Cushman & Wakefield in San Francisco…