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| Tess Berghoff. |
LOS ANGELES, CA – JLL Capital Markets has arranged the sale of
Falcon Ridge Town Center, a grocery- and drug-anchored center located in the
high-growth market of Fontana, California. This marks the largest retail
transaction in the Inland Empire, year-to-date. The price was not disclosed.
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| Bryan Ley |
JLL worked on behalf of the seller to facilitate the
transaction with the buyer, MCB Real Estate and a fund managed by DRA Advisors.
JLL Capital Market’s Investment and Sales Advisory team
representing the seller was led by Managing Directors Bryan Ley, Gleb
Lvovich and Geoff Tranchina, Senior Directors Tim Kuruzar and Daniel
Tyner and Director Tess Berghoff.
“The sale of Falcon Ridge Town Center further
demonstrates the demand for high quality, daily-needs anchored centers in high
growth areas of Southern California,” said Ley. “The asset is positioned to
continue its dominance with the growing residential being added to the area,
strong household incomes, and its growing lineup of national, credit retailers.”
 |
Gleb Lvovich
|
Falcon Ridge Town Center, located at 15218-15320 Summit
Ave., enjoys a prime position at the exit ramp of the bustling I-15 freeway.
With a daily traffic volume of 148,800 vehicles, the center benefits from
exceptional visibility and exposure.
Additionally, the center benefits from its
proximity to major trade routes such as the I-10, SR-210 and Union Pacific
Railroad, ensuring easy accessibility and visibility for the nearby 291 acres
of residential area and significant employment hubs.
The city of Fontana, directly east of the Los Angeles
metropolitan area, is part of the Inland Empire, which covers 27,000 square
miles and has a population of approximately 4.6 million people.
 |
| Geoff Tranchina |
The Inland
Empire continues to attract a diverse and burgeoning population, particularly
among the younger demographic.
More affordable than the metropolitan Los
Angeles area, the Inland Empire’s economy thrives on construction, trade and
the rapid growth of warehouses, distribution centers and fulfillment centers.
Furthermore, sectors such as healthcare, education and transportation also
contribute to the region's prosperity.
The internet-resistant center of Falcon Ridge Town Center
was originally built in 2005 and was renovated in 2023. Located on 21.85 acres,
the retail hub offers 273,425 square feet of gross leasable area and an
impressive 1,568 parking spaces. Currently 91.6% occupied, the center is
anchored by key tenants like Target (NAP), Stater Bros, CVS Pharmacy, Ulta,
Ross, Old Navy, Michaels and 24 Hour Fitness, catering to the diverse needs of
customers.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The firm's in-depth
local market and global investor knowledge delivers the best-in-class solutions
for clients — whether investment sales and advisory, debt advisory, equity
advisory or a recapitalization.
The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please
visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a
real estate broker licensed with the California Department of Real Estate,
license #01223413.
About MCB Real Estate
Founded in 2007, MCB Real Estate is a community-centric,
privately-held institutional investment management firm headquartered in
Baltimore, Maryland. MCB boasts a nationwide portfolio of $3 Billion Assets
Under Management totaling approximately 15 million square feet of industrial,
office, retail, mixed-use, multi-family and life sciences properties with
almost 4 million square feet in its development pipeline.
About DRA Advisors
DRA Advisors LLC is a New York-based registered
investment advisor with approximately 100 employees that specializes in real
estate investment management services for institutional and private investors
including pension funds, university endowments, sovereign wealth funds,
foundations, and insurance companies.
Contact:
Grace Lewis, JLL PR
Phone: +1 903 520 3478
Email: grace.lewis@jll.com
jll.com.
www.mcbrealestate.com
