IE Business Daily Business news for the Inland Empire.
A shopping center in Chino has been sold.
Chino Promenade, a 64,082-square-foot facility that is 86 percent leased, sold for $10.8 million, according to a statement released Tuesday by CBRE Group Inc.
Crown Financial, which CBRE represented, sold the property to LJZ Murrieta LLC, a private investment group that plans to remodel the facility, CBRE reported.
Chino Promenade is at 5402 to 5480 Philadelphia Street near Central Avenue. It’s anchored by Crunch Fitness and the Automobile Club of Southern California.
The facility is likely to become an even more attractive retail location as more residential projects are developed there and the area’s population grows, according to the statement.
