October 20, 2016
CBRE Group, Inc. completed a $23.95-million sale of a mixed-use property in Ontario, CA to an unidentified private investor.
The 97,131-square-foot retail and service center is located at 2403 to 2455 S. Vineyard Ave. Tenants include Pep Boys, Carl’s Jr, DaVita Dialysis Center, Flame Broiler, Subway, Tarbell Realty, Brandon’s Diner, and Check ‘n Go.
CBRE’s Alan Krueger represented, the unnamed buyer. The sellers, Upper Indicator LLC and Vineyard Village Group LLC, a private investment partnership, were self-represented.
Krueger says, “Well located retail centers in solid demographic infill areas are in high demand. It’s one of the reasons this property sold at a low capitalization rate of below 6%.”
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