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4/17/24
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Pacific Petroleum Inc paid $7.8 mil for a 20k sf ($390/sf) retail center in Corona. The property, located at 135, 175, and 265 East Ontario Ave, was sold by LJZ Corona LLC in an all-cash deal.
Main Street Village Center caters to a densely populated, community with over 118,000 residents within a three-mile radius and an average annual household income exceeding $120k. Strategically located across from a major grocery store and pharmacy chain, the fully occupied center features valuable, e-commerce resistant services such as Kumon, a fitness center and Yogurtland.
CBRE’s Alan Krueger and Vanessa Haddad represented both parties in the transaction.
“Main Street Village offered a strategic investment opportunity, said Krueger. “It boasts exceptional tenant retention history, with over 90% of the tenants choosing to remain at this location for more than a decade.”
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