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September 19, 2019
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Inland Empire Retail Center Acquired for $31.5 Mil by Private Investor

8/22/19

Corona Hills Marketplace, a 148.8k sf, grocery-anchored community shopping center located in the SoCal community of Corona Hills, sold for $31.5 mil ($212/sf). The property is situated on 12.28 acres at 529-591 N. McKinley St, east of I-15 and just north of the 91 Fwy.

Anchored by Vons, PetSmart and Howard’s Appliances, Corona Hills Marketplace is 98% leased to a diverse mix of daily-needs and service-oriented tenants and is shadow-anchored by Walmart. The center serves as the community shopping center for the trade area and is along one of the most well-traveled regions in the Corona Hills submarket. The property’s location along McKinley Street in addition to visibility from the 91 Freeway exposes it to more than 209,000 vehicles per day.

Gleb Lvovich, Bryan Ley and Daniel Tyner with JLL represented the seller, a public REIT. An undisclosed private investor purchased the asset.

“We are seeing a wide variety of capital targeting grocery-anchored retail along the West Coast,” Lvovich said. “Demand and fundamentals remain strong, especially in key West Coast markets. We expect this to continue, especially if interest rates continue to help investors using leverage.”




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