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California  + Inland Empire  + Retail  | 

Upland Grocery-Anchored Center Trades for $17M

Upland Village, a 60,857-square-foot grocery-anchored shopping center in Upland CA, sold for $17.2 million. The sales price represents a cap rate of 5.8%, a record low for a stabilized grocery-anchored shopping center in the Inland Empire.

Grocery Outlet and Dollar Tree anchor the 100%-leased neighborhood retail center, that was built in 1972 on 3.9 acres and is located at 110, 130, 140 and 180 Mountain Ave.

Hanley Investment Group’s Ed Hanley and Bill Asher, along with Voit’s Joe Miller, represented the seller, Orange County-based Outpost Village, LLC. RE/MAX Realty 100’s Peter Loh and RE/MAX Vantage’s Paul Yang advised the buyer, an undisclosed SoCal-based private investor.

Hanley said, “Neighborhood shopping centers with successful grocers that satisfy the daily and weekly needs of consumers are a great hedge against an economic downturn. This type of well-located shopping center will continue to be in high demand across Southern California and the U.S. for the foreseeable future.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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