Boston-based real estate investment company Longpoint has acquired Cardenas Marketplace, a specialty grocery-anchored shopping center in the Inland Empire city of Montclair, CA. Completed in 2020 and 91% occupied, Longpoint paid $22.7 million for the asset which exemplifies the firm’s strategy to acquire centers anchored by grocers catering to the unique preferences of a neighborhood’s ethnic, racial or multicultural populations.

“We always aim to stay true to our motto of ‘Welcome to the Neighborhood’ or ‘Bienvenidos a Nuestro Barrio’,” said Longpoint Managing Partner Dwight Angelini. “Cardenas Marketplace presented a compelling opportunity to acquire a well-located grocery-anchored shopping center at at the heart of a densely populated trade area with a strong and growing Latin American community.”

Cardenas Marketplace is located at the busy intersection of Central Avenue and Holt Boulevard and is anchored by Cardenas Market, a leading specialty grocer providing fresh and authentic Hispanic fare. Other notable tenants include AT&T and Wendy’s.