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RC shopping center changes hands
Thomas Winery Plaza, a 99,838-square-foot shopping center in Rancho Cucamonga, has been sold.
The facility, which is anchored by a CVS Pharmacy, sold for $24 million, the largest amount paid for a retail property of that size in the Inland Empire so far this year, according to a statement.
The seller was Apartment Income Investors Inc., a privately-held property management and multifamily investment firm in Rancho Cucamonga. The buyer, whose name was not released, paid cash for the property.
Matthews Real Estate Investment Services in El Segundo negotiated the transaction, which involved an international search for a buyer. The property, at the northeast corner of East Foothill Boulevard and Carnelian Street, had been on the market for more than two years before Matthews Real Estate began marketing it, according to the statement.