CHINO, CALIF. — MetLife Investment Management, the institutional asset management business of MetLife Inc., has completed the disposition of Chino Spectrum Towne Center, a power center in Chino. Brixmor Property Group, a New York-based public REIT, purchased the asset for $138 million. Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE’s National Retail Partners – West represented the seller in the deal.
Located at 3801-4097 Grand Ave., Chino Spectrum Towne Center features 461,269 square feet of retail space that was 95 percent leased at the time of sale. Current tenants include H Mart, Kohl’s, Five Below, Best Buy and Nordstrom Rack, as well as regional and local retailers, service providers and restaurants. The property is also shadow anchored by Walmart Supercenter and Sam’s Club.