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October 5, 2023
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Fully Leased Neighborhood Center in Chino Goes for $8.4 Mil


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.”

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