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10/11/18
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Euclid Plaza LLC has obtained a $24.3 mil loan for the refinance of Stater Bros Plaza, a 73.6k sf neighborhood retail center in Chino. Built in 2008, Stater Bros. Plaza is situated on 6.86 acres at 6989 Schaefer Ave. The center is anchored by Stater Bros Market and includes a strong lineup of national, credit, and regional tenants including, Chase Bank, Subway, Sprint, The UPS Store, and Mountain Mike’s Pizza, among many others.
The center is situated at the intersection of Euclid Ave and Schaefer Ave in the East Chino Specific Planning Area and on the western border of the Ontario Ranch Master Plan. The property features overall accessibility and signage visibility, and sits in proximity to the CA-71 and the CA-60 Freeways.
Marina Massari and Sharon Kline of CBRE’s Capital Markets’ Debt & Structured Finance team arranged the 36-month, interest-only, five-year loan through Buchanan Mortgage Holdings, a division of Buchanan Street Partners. Buchanan, represented by Joseph Maehler, provided a highly flexible capital structure with a quick close.
“The center features a great balance of retail, restaurant and service offerings, which drives cross-traffic between retailers in the center,” said Massari. “Stater Bros Plaza features excellent visibility on a major thoroughfare, located in a high-growth trade area.”
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