IE Business Daily Business news for the Inland Empire.
Montclair Plaza has been sold to a Los Angeles investment firm.
The regional shopping mall, which opened in 1968 and is one of the oldest shopping centers in greater Los Angeles, was sold to CIM Group, according to a statement posted on the company’s Web site.
The seller was CWCapital Asset Management. Cost of the 1.2-million-square-foot mall, which was one of seven retail properties that CIM Group recently purchased, was not disclosed.
Montclair Plaza is anchored by Nordstrom, Macy’s, J.C. Penney, Sears and Target. It sits next to Interstate 10 and has excellent freeway visibility, but it has been hurt in recent years by Victoria Gardens, the lifestyle center in Rancho Cucamonga, and Ontario Mills.
