Main Street Village occupies a 2.5-acre site at the northeast corner of Main Street and Ontario Avenue and is anchored by a 24-Hour Fitness club. Other tenants include It's A Grind, Red Brick Pizza and Marble Slab Creamery.
Hanley says that the transaction represented a historically low cap rate and high price per sf for a neighborhood shopping center sale of this kind in the City of Corona. At $525 per sf, the 100% pre-leased property generated multiple offers, with a few final tenants taking official occupancy at the close of escrow, he notes.
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