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MCB, DRA Acquire Stater Bros.-Anchored Fontana Center
MCB Real Estate, based in Baltimore with nationwide holdings, completed the $64.7-million purchase of the Falcon Ridge Town Center in Fontana. The acquisition was made through a joint venture with a fund managed by DRA Advisors.
The acquisition marks the JV’s first transaction. Located at 15218-15320 Summit Ave., the fully leased 273,424-square-foot center is anchored by one of the most visited locations of regional grocery chain Stater Bros. Markets, and shadow anchored by Target.
“The area in and around Fontana is rapidly growing with more affluent residents moving in every year, and Falcon Ridge sits right in the middle of that growth, offering an all-encompassing shopping experience that’s unmatched in the region,” said MCB managing partner and co-founder P. David Bramble. “In turn, retailers are not only eager to be there, but they want to stay. Falcon Ridge is going to be successful for many years to come.”
- ◦Sale/Acquisition
