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1/14/26
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Brixmor Property Group, a NY-based public REIT, has acquired Chino Spectrum Towne Center, a 461.3k sf, H Mart-anchored power center in Chino, for $138 mil ($299/sf). Located at 3801–4097 Grand Ave, the property is currently 95% leased.
The purchase was one of two year-end acquisitions for Brixmor. The firm also bought Broomfield Town Center, a 175k sf center in Broomfield, CO, from AEW Capital Management for $51.2 mil ($292/sf).
Chino Spectrum Town Center |
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Chino Spectrum Towne Center features a strong lineup of national tenants including newly opened H Mart, Kohl’s, Five Below, Best Buy and Nordstrom Rack, complemented by a diverse mix of regional and local retailers, service providers and restaurants. The property also benefits from shadow anchors Walmart Supercenter and Sam’s Club, enhancing its position as a dominant retail hub in the Inland Empire.
Chino Spectrum Towne Center offers prime regional accessibility, generating more than 14 million trips per year with its location just off State Route 71 and featuring 4,387 feet of linear frontage that enhances visibility and convenience. The property comprises 20 separately owned parcels, providing flexibility and diversity of ownership. Demonstrating strong performance metrics, the center boasts a weighted average lease term (WALT) of 4.14 years. Further underscoring its stability and appeal, 89% of the offering is leased to national or regional credit tenants.
Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE’s National Retail Partners – West, represented the seller, MetLife Investment Management, the institutional asset management business of MetLife Inc.
“Chino Spectrum Towne Center’s recent grand opening of America’s largest Asian-focused specialty supermarket chain, adds to the existing grocery offerings from Sam’s Club and Walmart in making the property a regional destination,” said Slusher. “This combination of specialty and value-oriented anchors is particularly attractive to investors, as evidenced by the competitive bidding for Chino Spectrum Towne Center. Across the market, there is continued strong investor demand for high-performing, wholly owned grocery-anchored centers, especially those with vintage rental structures, which offer stability and the potential for future rent increases.”
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