RANCHO CUCAMONGA, CA-GlobeSt.com has learned exclusively thatFoothill Crossing LLC has put FoothillCrossing, a 312,307-square-foot regional powercenter here, up for sale for $60 million. The property,located at 12181-12357 Foothill Blvd., is 98%occupied with a strong national-credit tenant lineup anchored bySears Grand, Total Wine & More andOffice Depot.

Jeff Conover, senior managing director ofFaris Lee Investments, is marketing the property,which draws from the market area of approximately one millionpeople within a 10-mile radius. “This center offers an investor ahigh 8.26% cash-on-cash return starting day-one of ownership,” saidConover in a prepared statement. “The intrinsic value of the primeSouthern California real estate located off a major freeway on/offramp in a highly populated retail corridor andpricing below replacement cost of $192 per square foot makes this asecure and stable ownership opportunity that offers passive returnsyear over year.”

The property sits on slightly more than 31 acres and is locatedacross from Victoria Gardens, a1.5-million-square-foot lifestyle mall anchored by Macy’s,JCPenney, AMC Theaters and Bass ProShops. Foothill Crossings was built in 2004 and 2006 andbenefits from unobstructed retail frontage of nearly a half-milealong I-15, and approximately 1,600 feet of frontage along FoothillBlvd.