The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 9, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



RETAIL NEWS
Printer-friendly Version   Email an Associate
Fully Leased Neighborhood Center in Chino Goes for $8.4 Mil

11/18/22

Chino Village, a 20.6k sf neighborhood retail center in Chino, sold for $8.4 mil. The sale included approximately 2.5 acres of undeveloped land with flexible zoning.

Built in 1984, Chino Village is 100% leased. It is located at 4103 Riverside Dr, at the signalized corner of Riverside Dr and Pipeline Ave with visibility to over 33,000 cars per day and sits just over a mile from the 60 and 71 freeways.

Tenants include Jiffy Lube, Subway, Wienerschnitzel and a variety of daily needs services. The tenants have an average tenure of 15 years and many are paying below-market rents offering the new owner a value-add opportunity to increase rents over time.

Chino Village has excellent visibility with over 380’ of frontage along with multiple points of access The adjacent 2.5 acres of undeveloped land can be developed for an array of uses including retail, office or residential. In addition to the major freeway proximity, Chino Village also enjoys strong demos with over 141,000 people with an average household income of $95,000+ within three miles.

Mike Lin with Progressive Real Estate Partners exclusively marketed the property and represented the Orange County-based seller. The buyer is a Los Angeles-based private investor.

According to Mike Lin, “The excellent Chino location combined with the value-add aspect and the development opportunity to expand the center made this property very attractive to a large pool of buyers and we were able to generate multiple quality offers.” He added, “The buyer also liked the historical long-term tenancy of the center including the fact that Wienerschnitzel had just recently renewed their lease.”




Return to the previous page
 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media