Amid Frothy Stock Market, Retail Investors Seek Out Stability, Yield

Built in 2008, Foothill Village is home to a stable mix of seven Internet-resistant services, none of which have required pandemic-related rent relief. Within the village, The Shops at Fontana Square is a 7,194-square-foot unanchored 100% occupied multi-tenant retail center.

Its location at 17218 Foothill Blvd. is on one of Fontana’s primary retail corridors, directly across from a well-established Walmart anchored center. The center has visibility on Foothill Boulevard with 200 feet of unobstructed frontage facing Walmart. Furthermore, the property is located in a densely populated area with more than 191,000 residents within three miles earning an average household income of $76,650.

The property recently sold for $2.8 million in an all-cash transaction. Progressive Real Estate Partners’ Greg Bedell and Mike Lin exclusively marketed the property and represented the seller, a private Arizona-based investor. Dolly Yau from Dolly Realty represented the buyer, a private Southern California-based investor.

“With bond yields at records lows and a general sense that the stock market feels frothy, we are starting to see investors return to the multi-tenant retail investment market in search of stability and yield,” Lin observes.

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