X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ONTARIO, CA-The Ontario Center retail complex, which stands at 2529 Euclid St., has traded hands in an all-cash deal worth $3.8 million.

Encompassing 35,000 sf, the property is occupied by a varied tenant mix that includes a McDonald’s and Del Taco. The complex was 95% occupied at the time of sale, Faris Lee Investments broker Dennis Vaccaro tells GlobeSt.com. The buyer, JMS Ontario Investors LLC, is planning a minor rehabilitation of the property, Vaccaro adds.

Vacarro acted on behalf of JMS Ontario Investors in the transaction. The seller, Jones/Brown Investments, was represented by Rich Walter, also of Faris Lee Investments.

Investors continue to vie over available retail product, which is causing prices to rise nationwide, according to a recent report by Marcus & Millichap. “There is an enormous amount of capital pursuing (retail) product, coming from three different sources: conventional private and institutional investors who are always in the market; 1031 exchange buyers; and investors that are avoiding or fleeing the stock market,” says Bernard J. Haddigan, national director of Marcus & Millichap’s National Retail Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.