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1/23/15
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In a recent Inland Empire retail buy, IRA Capital Advisors LLC purchased Upland Town Square, a 100.4k sf shopping center in Upland, from NMC Upland for $23.75 mil ($237/sf). The property is located at 813-913 W. Foothill Blvd, north of I-10 and west of Euclid Ave.
Upland Town Square provides area residents with a diverse group of daily needs retailers and service providers. The shopping center features a quality list of national tenants, including: Sprouts Farmers Market, WaBa Grill, Wells Fargo, Denny's, O’Reilly Auto Parts, and H&R Block.
Both the buyer and the seller were represented in the transaction by the Dixie Walker Retail Investment Team at DTZ with Dixie Walker, Charley Simpson and Tom Blake.
According to Walker, “The sale reinforces continued demand in the grocery anchored sector and the addition of a value-added component made this a unique opportunity. Sprouts opened with sales volumes significantly above their expectations and will continue to be a very viable anchor for the center that will draw other quality tenants in the future.”
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