REBusinessOnline

Wood Investments Buys 99 Cents Only-Occupied Building in Chino Hills, California

4050-Chino-Hills-Pkwy-Chino-Hills-CA

99 Cents Only occupies the 28,240-square-foot retail property at 4050 Chino Hills Parkway in Chino Hills, Calif.

CHINO HILLS, CALIF. — Wood Investments Cos. has purchased a single-tenant retail investment property located at 4050 Chino Hills Parkway in Chino Hills. An undisclosed seller sold the asset for $2.5 million.

Situated within Chino Hills Parkway Center, 99 Cents Only occupies the 28,240-square-foot property, which was originally built in 1974 for Alpha Beta. Other tenants at the shopping center include 7-Eleven, Jack in the Box, AutoZone and H&R Block.

Wood Investments plans to hold the asset for cash flow until the end of the 99 Cents Only lease and will either negotiate a new lease with 99 Cents Only or another essential needs or grocery tenant at market rates. The business plans will take approximately three to five years to complete.

Patrick Wade, Alex Kozakov and Jake Hayutin of CBRE’s South Bay office in El Segundo, Calif., represented the seller, while Wood Investments Cos. was self-represented in the deal. Chicago-based JDI Realty is the lender in the deal.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties