IE Business Daily Business news for the Inland Empire.
The Shoppes at Chino Hills has been sold.
Stockdale Capital Partners, a Los Angeles-based private equity firm, and Hamilton Lane, a global private markets investment firm, bought the open-air lifestyle center for $157 million, according to a statement released by both companies.
The Shoppes at Chino Hills covers 378,140 square feet near Grand Avenue and Peyton Drive just off the 71 Freeway. Its tenants include Trader Joe’s, Barnes & Noble Booksellers, Old Navy, Yard House Bar & Grill, and Chipotle Mexican Grill.
Since it opened in 2008, Shoppes at Chino Hills has become a destination location and community gathering place, helped by its promenade, seasonal events, and farmers markets.
“The Shoppes at Chino Hills represents an opportunity to acquire a true ‘Main Street’ retail environment in one of Southern California’s most desirable and supply-constrained submarkets,” said Bastian Peters, managing director of Stockdale Capital, in the statement. “Supported by strong demographics, experiential tenant mix, and embedded growth potential, the property aligns perfectly with our strategy of acquiring high-quality retail destinations where we can unlock additional value.”
Stockdale Capital plans to rename the property The Shops at Chino Hills, and it will further rebrand the shopping center starting in the next few months, according to the statement.
Here we go… changing name and making changes we don’t want. Let’s see what the heck they will ruin. Tired of Corporations taking over screwing everything and everyone.