Monday, January 25, 2016

HFF closes $15.8 million sale of Southern California neighborhood retail center

Day Creek Village Shopping Center, 12223-12273 Highland Avenue
 Rancho Cucamonga, CA

CJ Osbrink
NEWPORT BEACH, CA – January 12, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $15.8 million sale of Day Creek Village, a 100-percent-occupied neighborhood retail center in Rancho Cucamonga, California.

HFF marketed the property on behalf of the seller, Day Creek Village, LLC.  Passco Companies, LLC purchased the asset. 

The 25,002-square-foot, fully-leased shopping center is shadow-anchored by Ralphs Fresh Fare grocery store and currently has 14 tenants, including Starbucks, Wells Fargo, Supercuts, Menchies and Orange Theory Fitness.

  Situated at 12223-12273 Highland Avenue, in the Inland Empire-area community of Rancho Cucamonga, Day Creek Village is at the intersection of Highland Avenue and Day Creek Boulevard with immediate access to the Foothill Freeway (210). 

The Inland Empire boasts a population of 4.5 million residents, with more than 108,000 residents living within a three-mile radius of the property.  Further, Rancho Cucamonga’s median household income is 47 percent higher than the Inland Empire as a whole.  In the one-mile radius of the center, the average household income is $111,000.

The HFF investment sales team representing the seller was led by CJ Osbrink and Gleb Lvovich.

“This property is a strong addition to our portfolio based on its excellent tenant mix and local demographics,” said Bob Peterson, vice president of retail acquisitions for Passco Companies, LLC.  “We continue to seek stabilized retail assets in growing markets with the potential for strong performance over time.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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