Hanley Investment Completes Inland Empire Retail Transaction
- Feb 25, 2020
Hanley Investment Group Real Estate Advisors has arranged the $10.4 million sale of a new, single-tenant, Sprouts Farmers Market at the Highland Village Shopping Center in Fontana, Calif. Executive Vice Presidents Kevin Fryman, Bill Asher and Jeff Lefko represented the seller, Adler Realty Investments. Heidi Kim of TNG Real Estate Consultant represented the buyer, a private investor. Earlier this month, Asher and Lefko represented the seller of a grocery-anchored shopping center in Eastvale, Calif. The asset traded for $33 million.
Sprouts Farmers Market is the anchor tenant at Highland Village Shopping Center, where it occupies 30,000 square feet. The retail center’s tenant roster also includes Burgerim, Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s, Café Rio, Oggi’s Restaurant and Pacific Dental.
Located at the intersection of Sierra Avenue and 210 Freeway, Highland Village is within 5 miles of Interstate 15. According to Hanley, the average daily traffic count at the 210 Freeway/Sierra Avenue exit is approximately 119,000.