|
|
2/04/25
|
In a recent Rancho Cucamonga retail trade, an L.A.-based private investor paid $6.22 mil for two stand-alone buildings occupied by a Chipotle Mexican Grill and an adjacent Starbucks Drive-Thru. The assets were sold by Chase Partners Ltd, based in Glendale.
Built in 2003, the two freestanding properties occupied by a 2.5k sf Chipotle Mexican Grill and a 4k sf Starbucks Drive-Thru sit on a 1.31-acre parcel located at 10811-10831 Foothill Blvd, near the signalized intersection of Foothill Blvd (U.S. Route 66 with over 32,000 cars per day) and Aspen Ave.
Starbucks recently signed a new 10-year extension, expanding into the adjacent 2.5k sf space for a total of 4k sf, showing its continued long-term commitment to this location. The Rancho Cucamonga Starbucks is a top 15% location nationwide, based on customer traffic (Placer.ai).
The Chipotle has nine years remaining on its lease, having recently extended early for five years, demonstrating its ongoing investment in the site. The Rancho Cucamonga Chipotle is a top 25% location in California, based on customer traffic (Placer.ai).
The property involved a complete rehabilitation of the facility and the expansion of Starbucks by Chase Partners. The firm is an active developer of Starbucks and Chipotle sites, as well as other name-brand retail developments, with a dozen projects currently underway.
Chipotle and Starbucks are located across from Terra Vista Town Center, one of Rancho Cucamonga’s most established and premier regional shopping centers. The 645k sf Terra Vista Town Center is ranked within the top 25% of power centers nationwide, based on customer traffic, according to Placer.ai.
The center is anchored by Target, Hobby Lobby, and LA Fitness, along with other national tenants including Ross Dress for Less, Michaels, HomeGoods, Panera Bread, Wells Fargo, CVS, Bank of America, and Five Below. The property is ideally situated in the center of the city within minutes of the 10, 15, and 215 freeways. It is located next to Rancho Cucamonga’s 44 million square feet of office and industrial space, which combined employs over 65,000 employees.
Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented Chase Partners in the deal. The buyer was repped by Shirley Kim at Epique Realty.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
