CORONA DEL MAR, CALIF. – (RealEstateRama) — President Ed Hanley and Executive Vice President Bill Asher of Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, reports that the firm is marketing for sale Stater Bros. Plaza in Chino, Calif., for $35 million, representing a rare offering of a grocery-anchored shopping center for sale in the Inland Empire.
“Quality grocery-anchored shopping centers have historically been in low supply in southern California,” Asher said. “Rarely offered for sale and highly sought-after, neighborhood shopping centers with a successful grocer satisfy the daily and weekly needs of consumers and will continue to do so for years to come. The grocery-anchored center is the brick and mortar retail investment that will continue to thrive today and in future economic cycles. They are internet resistant, typically with complementary food and service-related retailers that buyers ranging from REITs to private buyers (foreign and domestic) are smartly sinking their money into for a secure and stable long-term investment.”
According to Hanley, the Stater Bros. in Chino, which is located at the intersection of Euclid Avenue and Schaefer Avenue, is a very successful store and one of the top locations in the chain. “The store’s success is a testament to the strategic decision that the company made over eight years ago to relocate to a new prototype format from a smaller and older location up the street. It’s now a high volume store in a 180-degree trade area with limited competition within a three-mile radius. The shopping center also offers tremendous future upside potential as approximately 48,000 new homes are projected to be built over the next 20 years,” Hanley stated.
Stater Bros. Plaza is located at 6939, 6989 & 7011 Schaefer Avenue in Chino, Calif. Built in 2008, the 73,600-square-foot shopping center is situated on 7.54 acres and is anchored by a 44,000-square-foot Stater Bros. The retail property is currently 95% occupied.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.