Chino’s Spectrum Towne Center sold for $144 million
Chino Spectrum Towne Center sells for $144 million
The Chino Spectrum Towne Center, a “power center” featuring big-box stores, discounters and clothing stories including Walmart, Best Buy, Aki Home, Pier 1 Imports, Nordstrom Rack, DSW and Kohl’s has sold for $144 million to MetLife Investment Management.
It was acquired from a partnership between Vestar Development Co. and an institutional entity, with commercial real estate firm Savills Studley handling the sale. The center is located at Grand Avenue and the 71 freeway.
“Chino Spectrum Towne Center is one of the dominant regional shopping centers in Southern California with an outstanding mix of ‘best-in-class’ retail and restaurant operators supported by a very strong demographic consumer base,” Savills Studley’s Bill Bauman said in a statement.