Spruce Plaza in the master-planned community of Terra Vista in Rancho Cucamonga has sold for $15.625 million.
The retail center at 10877-10895 East Foothill Blvd. is fully occupied by Blaza Pizza, Tokyo Joe’s, Luna Grill, Jersey Mike’s, Café Rio and Habit Burger.
SRS Real Estate Partners’ National Net Lease Group Managing Principals Matthew Mousavi and Patrick Luther, along with SRS Executive Vice President Garrett Colburn of the Newport Beach office, represented the seller and developer of Spruce Plaza, Costanzo Investments, a Southern California-based development company. The buyer, a family trust from the Bay Area, was represented by Ralph Borelli and Caleb Scherer of Borelli Investment Co.
“Spruce Plaza is representative of the type of retail center being sought after by the market in the current environment. That is a next-generation, food-oriented and lifestyle-centric retail center in a highly visible and accessible location within a healthy Southern California market,” said Mousavi.