JH Real Estate Continues Buying Spree with Ontario Gateway

Ontario Gateway, a 225,749-square-foot fully occupied grocery-anchored shopping center in Ontario, CA, recently sold for $40.5 million. The buyer, JH Real Estate Partners, has been active in purchasing well-located power centers, community/neighborhood centers, mixed-use, multifamily residential, office and land throughout the Western United States.

Ontario Gateway is located at 4400-4510 Ontario Mills Pkwy. The property has more than 1,300 feet of frontage on the I-10 Freeway and is adjacent to Ontario Mills Mall, a 1.5-million-square-foot mall that attracts more than 28 million visitors per year.

Newmark’s Bill Bauman and Kyle Miller represented the seller, Zelman Development Company.

“Ontario Gateway’s location, visibility, accessibility and best-in-class tenant mix has made it the primary shopping destination within the Ontario submarket,” said Bauman. “Its location directly across from the iconic Ontario Mills Mall creates a significantly expanded trade area, enhancing the appeal of this asset.” The center is occupied by a well-curated and diverse mix of national credit tenants in a wide array of categories. Anchor tenants include Ross, Big Lots, Jo-Ann, Dollar Tree, David’s Bridal, Turner Outdoorsman and Grocery Outlet. The property also benefits from four outparcels leased to IHOP, Outback Steakhouse, Tokyo Wako and an undeveloped pad. The undeveloped pad offers the new owner considerable upside potential in leasing it for development.