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.
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.