Chino Village Retail Center Trades for $8.4M

Inland Empire-based retail brokerage firm Progressive Real Estate Partners, has closed the $8.4 million sale of Chino Village, a 100%-leased neighborhood retail center on Riverside Drive in Chino, CA. The firm’s Mike Lin marketed the property and represented the Orange County-based seller. The buyer was a private investor from Los Angeles.

Chino Village has several recognizable tenants including Jiffy Lube, Subway and Wienerschnitzel and is situated at an intersection that handles over 33,000 cars daily. The purchase included 2.5 acres of undeveloped land with flexible zoning.

“The excellent Chino location combined with the value-add aspect and the development opportunity to expand the center made this property very attractive to a large pool of buyers, and we were able to generate multiple quality offers,” said Lin in a news release. “The buyer also liked the historical long-term tenancy of the center including the fact that Wienerschnitzel had just renewed their lease.”