CHINO, CA-The Evans Co. has started construction of its Euclid Plaza with $32.6 million in construction financing via Wrightwood Capital, and a Kimco-Prudential joint venture has sold a retail center in Ontario for $27.3 million. The Evans Co., based in Palm Desert, landed the acquisition and financing for Euclid Plaza in a deal sourced through Chris Bramel of Bridgeport Investments, according to Marty Kearney, director of investments in Wrightwood Capital’s Newport Beach office.<p.Euclid Plaza is a planned grocery-anchored retail development covering 13.3 acres of agricultural land at the southwest corner of Euclid and Schaefer avenues. Once completed, the property will include one anchor building, 37,800sf in-line retail space and seven outparcels for a total more than 117,000sf.

The Stater Bros. supermarket chain will occupy the anchor space of approximately 43,830 sf. Kearney notes that the Euclid Plaza trade area is growing significantly as the agricultural land surrounding the property is rapidly being converted into residential, retail and commercial uses. He adds that the Evans Co. has extensive experience in the Chino retail market, including strong relationships with the localgovernment, local retail brokers and tenants.

In the Ontario deal, Laeroc Partners acquired the 142,207-sf Vineyard Village shopping center from a joint venture of Kimco Realty and Prudential Real Estate Investors in a transaction that was brokered by Irvine-based Reza Investment Group. Reza Etedali, CEO and founder of the firm, notes that the center generated offers from 12 prospective buyers.

The property is prominently located at the southeast corner of the 60 Freeway and Vineyard Avenue. Its tenants include Sears Outlet, Pep Boys, 24 Hour Fitness and Greenhills Market.

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?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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 © 2024 ALM Global, LLC. All Rights Reserved.