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AutoZone property in Bakersfield sells for $2.64 million

Hanley Investment Group and Progressive Real Estate Partners arranged the deal, with the buyer paying all cash via a 1031 exchange and taking over a 15-year triple-net lease.

Reported · Written up by our desk · Industrial & Land

ConnectCRE reports that Hanley Investment Group Real Estate Advisors and Progressive Real Estate Partners arranged the sale of a renovated, single-tenant AutoZone in Bakersfield for $2.64 million.

The property, built in 2013, completed a full renovation in 2025 and is leased to AutoZone under a new 15-year triple-net lease, according to the transaction details.

ConnectCRE says the seller, Torrey Financial Group of San Diego, was represented by Jeff Lefko and Bill Asher, while a private investor from Los Angeles was represented by Greg Bedell and Lance Mordachini of Progressive Real Estate Partners.

The seller’s team said the buyer was an all-cash, 1031-exchange buyer from Nevada, with escrow lasting about 40 days and the sale closing at more than 96% of the listing price, for an 8,302-square-foot building at 1125 Olive Dr.

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