2/20/2008

Faris Lee sells L.A. retail center for $19.75M

by Michael Wayne
Newport Beach, Calif.-based Peninsula Retail Partners has sold Foothill Plaza in Rancho Cucamonga for $19.75 million to San Diego-based Sechong I, LLC.

Jeff Conover of Faris Lee Investments represented Sechong and Peninsula, which developed the property in July 2007.

Foothill Plaza contains 29,006 square feet and was sold for $681 per square foot with a 5.84 percent capitalization rate. The retail center is located at the intersection of 15 Freeway and Foothill Blvd. in Rancho Cucamonga, a city situated approximately 37 miles east of Los Angeles. It consists of four retail pads that are currently leased to tenants such as El Torito Grill, Citi Bank and El Pollo Loco.

Address: 12369 Foothill Blvd., Rancho Cucamonga, Calif.

Size: 29,006 square feet

Built: 2007

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Filed Under: Retail

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