 |
| 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 | www.hfflp.com
No comments:
Post a Comment