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Apple Valley’s Jess Ranch Marketplace Trades for $89M
Houston-based Weingarten Realty divested Jess Ranch Marketplace in Apple Valley, CA for $89 million to Newport Beach, CA-based JH Real Estate Partners, Inc. The sale encompassed the grocery, lifestyle and entertainment portions of the 704,927-square-foot shopping center.
The more than 98%-leased property at 18989 Bear Valley Rd. is anchored by Target, Winco Foods, Burlington, 24 Hour Fitness, Cinemark, Best Buy, Bed Bath & Beyond, PetSmart, Rite Aid, Big 5 Sporting Goods, Staples, 99 Cents Only Stores and Ulta. Target, Winco Foods, Staples and 99 Cents Only Stores, were not a part of the sale.
Lucescu Realty represented the seller and procured the buyer.
Mark Lucescu says, “It’s an institutional-quality center; one of the most dominant and successful centers within the entire MSA with a blue-chip tenant roster, high grossing anchors and shops, an infill location, and high barriers of entry. Weingarten did a great job of developing, managing and leasing the center, and the buyer should continue that success.”
For comments, questions or concerns, please contact Dennis Kaiser
*This story was updated on Aug. 13th with buyer information.
- ◦Sale/Acquisition




