Christoper Lupo and Victor Zonni with Parker House Furniture have acquired Vernola Marketplace, a 16-building, 201,000-square-foot retail center in Jurupa Valley, CA. Investment firm Merlone Geier Partners sold the asset for $62 million in one of the priciest Inland Empire retail deals of 2022.
According to the Orange County Register, the shopping center was named after the Vernola family, which raised alfalfa, peas, wine grapes and corn in the Mira Loma and Eastvale areas. The center has several recognizable tenants including Lowe’s, Dollar Tree, Ross Dress for Less, Petco and several fast food restaurants.
Located at 6237 Pats Ranch Road, Vernola Marketplace is situated immediately east of Interstate 15 off Limonite Avenue and within a highly populated residential area. San Francisco-based Merlone Geier has been busy this year, unloading a shopping center in Lancaster in September and two more in Palmdale in July.
Dive into “all things retail” at Connect Retail West on November 9th at the Luxe Sunset Boulevard Hotel in Los Angeles. Details and registration info here.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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