{"id":1004652603,"date":"2023-03-20T11:17:58","date_gmt":"2023-03-20T19:17:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004652603"},"modified":"2023-03-20T11:18:00","modified_gmt":"2023-03-20T19:18:00","slug":"inland-empire-lifestyle-center-commands-54m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/","title":{"rendered":"Inland Empire Lifestyle Center Commands $54M<\/strong>"},"content":{"rendered":"

SRS Real Estate Partners<\/strong> has arranged the sale of New Haven Marketplace, a new lifestyle center in Southern California\u2019s Inland Empire, on behalf of the developer, Frontier Real Estate Investments<\/strong>. A California-based family office acquired the 95,000-square-foot property, which sits in the heart of the 8,000-acre Ontario Ranch master-planned community in the city of Ontario, Calif. The $54 million price tag included the assumption of existing debt.<\/p>\n

\"New<\/a>

New Haven Marketplace. Image courtesy of SRS Real Estate Partners<\/em><\/p><\/div>\n

Senior Vice President Pat Kent and Senior Associate Parker Walter of SRS\u2019s Investment Properties Group represented Frontier in the transaction, while Glenn Rudy of Newmark<\/strong> stood in for the buyer. SRS welcomed a bevy of offers from investors eager to add New Haven Marketplace to their portfolio. \u201cThe property is in a great location and is a newly built, grocery-anchored shopping center in Southern California. It is very rare that investors have the opportunity to acquire assets like this,\u201d Walter told Commercial Property Executive<\/em>.<\/p>\n

\n

READ ALSO<\/strong>: Designing the Suburbs of the Future<\/a><\/p>\n

\n

Located on a 10.6-acre site at 3420 E. Ontario Ranch Road, New Haven Marketplace made its debut in 2020, with a 45,000-square-foot Stater Bros. market as its anchor tenant. The Bickel Group Architecture<\/strong>-designed property features a farmhouse style with abundant landscaping and ample communal spaces. The asset holds the distinction of being the first retail center in Ontario Ranch.<\/p>\n

Retail the right way<\/strong><\/h2>\n

Frontier developed New Haven Marketplace in partnership with CalSTRS<\/strong> and Brookfield Residential<\/strong>, which has spearheaded the delivery of a ready-made audience for the retail destination with the programming of thousands of single-family homes and apartment units at Ontario Ranch. Today, the New Haven Marketplace is 100 percent leased to a diverse group of tenants that includes a host of eateries, Chase Bank, YogaSix yoga studio and market hall Rodeo X, which includes the Brew Haven Brewery.<\/p>\n

Grocery anchor, prime location<\/a>, unique tenancy, Class A status\u2014all of these factors translated into a sale price of approximately $568 per square foot for New Haven Marketplace. The average retail property sale price in the Inland Empire was $302 per square foot in the fourth quarter of 2022, according to a report by Kidder Mathews<\/strong>.<\/p>\n

\u201cThe pricing and demand for high-quality real estate remain strong in uncertain times,\u201d Walter said. \u201cWe expect a flight to quality from investors to assets such as New Haven Marketplace while pricing for assets in tertiary locations and older product will be negatively affected pricewise.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

SRS Real Estate orchestrated the sale of New Haven Marketplace in Ontario, Calif.<\/p>\n","protected":false},"author":969,"featured_media":1004652654,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,34027,21783,21742,21749,15],"tags":[33497,40376,33612,50999,35484],"class_list":["post-1004652603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-inland-empire","category-investment","category-latest","category-retail","category-west","tag-brookfield-properties","tag-calstrs","tag-kidder-mathews","tag-newmark","tag-srs-real-estate-partners"],"acf":[],"yoast_head":"\nInland Empire Lifestyle Center Commands $54M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"SRS Real Estate Partners has arranged the sale of New Haven Marketplace, in the Inland Empire, on behalf of Frontier Real Estate Investments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Empire Lifestyle Center Commands $54M\" \/>\n<meta property=\"og:description\" content=\"SRS Real Estate Partners has arranged the sale of New Haven Marketplace, in the Inland Empire, on behalf of Frontier Real Estate Investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T19:17:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T19:18:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/NH-Marketplace-Ontario-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"804\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/\",\"name\":\"Inland Empire Lifestyle Center Commands $54M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/NH-Marketplace-Ontario-featured.jpg\",\"datePublished\":\"2023-03-20T19:17:58+00:00\",\"dateModified\":\"2023-03-20T19:18:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"description\":\"SRS Real Estate Partners has arranged the sale of New Haven Marketplace, in the Inland Empire, on behalf of Frontier Real Estate Investments.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-empire-lifestyle-center-commands-54m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/NH-Marketplace-Ontario-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/NH-Marketplace-Ontario-featured.jpg\",\"width\":804,\"height\":600,\"caption\":\"New Haven Marketplace. 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