March 25, 2020
JLL Capital Markets closed the $13.75 million sale of Shops to Victoria Gardens in Rancho Cucamonga, CA. The 31,405-square-foot retail strip center is adjacent to the popular Victoria Gardens lifestyle center, and was sold by Fit Development to an unnamed buyer.
Constructed in 2007, the 80%-occupied center is leased to a diverse mix of service-oriented, daily needs and soft-goods tenants, including DXL Men’s Apparel, Pacific Dental, and Shakey’s Pizza. Situated on 2.65 acres at 12455 Victoria Gardens Ln., the asset fronts the 175-acre Victoria Gardens, one of SoCal’s most dominant lifestyle centers that welcomes more than 16 million annual visitors.
JLL’s Daniel Tyner and Gleb Lvovich marketed the property on behalf of the seller.
Tyner notes, “During our marketing process, we were able to successfully navigate through market turmoil in addition to overcoming an in-place tenant’s bankruptcy. The irreplaceable location outside of Victoria Gardens, along with the immediate value-add opportunity, proved to be highly attractive to the investor market.”
For comments, questions or concerns, please contact Dennis Kaiser