July 13, 2018
Thomas Winery Plaza, a nearly 100,000-square-foot CVS-anchored shopping center in Rancho Cucamonga, CA, has been sold for $24 million. Apartment Income Investors, Inc., a privately-held property management and multifamily investment firm, divested the asset to an undisclosed party.
The transaction ranks as the largest deal year-to-date in the Inland Empire, according to Matthews Real Estate Investment Services’ Lindsay Tsumpes and El Warner, who handled the transaction.
“This transaction is significant because our team was able to take over a listing from a previous firm after more than two years on the market, and sell it to an all-cash buyer three weeks prior to our client’s loan maturing,” said Warner.
The team sourced an international buyer attracted to the strong retail location located along the Historic Route 66 and recession-proof anchor tenants, including a gym and drug store.
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