RANCHO CUCAMONGA, CA-GlobeSt.com has learned exclusively that Foothill Crossing LLC has put Foothill Crossing, a 312,307-square-foot regional power center 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 by Sears Grand, Total Wine & More and Office Depot.

Jeff Conover, senior managing director of Faris Lee Investments, is marketing the property, which draws from the market area of approximately one million people within a 10-mile radius. “This center offers an investor a high 8.26% cash-on-cash return starting day-one of ownership,” said Conover in a prepared statement. “The intrinsic value of the prime Southern California real estate located off a major freeway on/off ramp in a highly populated retail corridor and pricing below replacement cost of $192 per square foot makes this a secure and stable ownership opportunity that offers passive returns year over year.”

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