May 17, 2016
Hanley Investment Group is handling a rare retail listing in low supply in Southern California. The Corona del Mar, CA-based brokerage firm is selling Stater Bros. Plaza in Chino, CA for $35 million.
The 73,600-square-foot grocery-anchored shopping center was built in 2008 on 7.5 acres and is 95% occupied including a 44,000-square-foot Stater Bros.
More than eight years ago, Stater Bros. relocated a new prototype to the site. Since then, the store has hit high-volumes and is located in the path of growth where nearly 50,000 new homes are projected over the next two decades.
Hanley Investment Group’s Ed Hanley and Bill Asher are representing the owner, a Newport Beach, CA-based commercial developer. Asher reports that early buyer interest has ranged from institutions to private investors.