Inland Empire Lifestyle Center Commands $54M

SRS Real Estate orchestrated the sale of New Haven Marketplace in Ontario, Calif.

SRS Real Estate Partners has arranged the sale of New Haven Marketplace, a new lifestyle center in Southern California’s Inland Empire, on behalf of the developer, Frontier Real Estate Investments. A California-based family office acquired the 95,000-square-foot property, which sits in the heart of the 8,000-acre Ontario Ranch master-planned community in the city of Ontario, Calif. The $54 million price tag included the assumption of existing debt.

Senior Vice President Pat Kent and Senior Associate Parker Walter of SRS’s Investment Properties Group represented Frontier in the transaction, while Glenn Rudy of Newmark stood in for the buyer. SRS welcomed a bevy of offers from investors eager to add New Haven Marketplace to their portfolio. “The property is in a great location and is a newly built, grocery-anchored shopping center in Southern California. It is very rare that investors have the opportunity to acquire assets like this,” Walter told Commercial Property Executive.

Published at Commercial Property Executive; click here for full article.