{"id":1004242136,"date":"2018-07-16T05:57:19","date_gmt":"2018-07-16T13:57:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004242136"},"modified":"2022-12-09T00:30:59","modified_gmt":"2022-12-09T08:30:59","slug":"apartment-income-investors-trades-inland-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apartment-income-investors-trades-inland-retail-asset\/","title":{"rendered":"Apartment Income Investors Trades Inland Retail Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004242145\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004242145\" data-attachment-id=\"1004242145\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/apartment-income-investors-trades-inland-retail-asset\/thomas-winery-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Thomas Winery Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Thomas Winery Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg?w=1000\" class=\"wp-image-1004242145 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Thomas-Winery-Plaza.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004242145\" class=\"wp-caption-text\">Thomas Winery Plaza<\/p><\/div>\n<p>Apartment Income Investors has sold Thomas Winery Plaza\u2014a 99,838-square-foot shopping center in the Inland Empire\u2014for $24 million in an all-cash transaction. The buyer is an international investor. The seller bought the asset in 2011 with acquisition financing originated by Bank of America, according to San Bernardino County records.<\/p>\n<p>Located at the intersection of Vineyard Avenue and E. Foothill Boulevard in Rancho Cucamonga, Calif., the shopping center is positioned 2.5 miles north of the San Bernardino Freeway. Its tenant roster includes CVS Pharmacy, Fitness 19 and a number of restaurants. In addition to a number of other retail properties, the center is in close proximity to multiple residential assets. According to Yardi Matrix, more than 5,600 units are within two miles of Thomas Winery Plaza.&nbsp;<\/p>\n<p><em>\u201cThis transaction is significant because our team was able to take over a listing from a previous firm after more than two years on the market and sell it to an all-cash buyer three weeks prior to our client\u2019s loan maturing,\u201d<\/em> said El Warner, executive vice president &amp; national director of Matthews, in a prepared statement.<\/p>\n<p>Lindsay Tsumpes and El Warner of Matthews\u2019 shopping center division represented the seller in the transaction. In May, a Matthews team <a href=\"https:\/\/www.commercialsearch.com\/news\/plaza-properties-offloads-northern-al-shopping-center\/\">closed the sale of a similarly sized asset<\/a> in northern Alabama.<\/p>\n<p><em>Image courtesy of Matthews<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A private investor paid $24 million for the roughly 100,000-square-foot Thomas Winery Plaza in the Inland Empire in an all-cash transaction.<\/p>\n","protected":false},"author":861,"featured_media":1004242145,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,34027,21783,21742,21749,15],"tags":[33250,35554,35596],"class_list":["post-1004242136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-inland-empire","category-investment","category-latest","category-retail","category-west","tag-bank-of-america","tag-cvs-pharmacy","tag-matthews-real-estate-investment-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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