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September 22, 2023
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JH Real Estate Partners Wraps Up $70 Mil Inland Empire Retail Buy


In a major retail buy in the Inland Empire, JH Real Estate Partners Inc paid $70.5 mil for Inland Empire Center, a 309.5k sf ($228/sf) asset in Fontana. The property was sold by The Baralat Company, a Westlake Village-based real estate firm.

Located at 16701-16873 Valley Blvd., Inland Empire Center features a total of 16 parcels. The shopping center is 98.7% occupied, including such tenants as Cardenas Market, Ross, Planet Fitness, Regency Theatres, Burlington, Taco Bell, and other discount retail, daily needs, and casual-dining businesses.
Completed in 1993, Inland Empire Center features 1,227 parking spaces. It sits at the intersection of Valley Blvd and Sierra Ave with a traffic count of 87,300 cars per day.

Patrick Wade and Alex Kozakov of CBRE represented the seller, The Baralat Company, in the transaction. The listing generated multiple offers.

“The sale of Inland Empire Center illustrates the tremendous resurgence in demand for well-located Hispanic grocery store-anchored centers in infill markets in Southern California,” noted Kozakov.

“With over 1,100 feet of frontage along the 10 Freeway and on-ramp/off-ramp location, the Inland Empire Center boasts excellent accessibility and tenant visibility,” commented Wade. “Being located across the street from the Kaiser Permanente Fontana Medical Center and surrounded by rooftops only helps the daily foot traffic at the center.”

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