Hanley Investment Group has sold 38 retail properties since COVID-19 was declared a pandemic on March 11
July 27, 2020 — Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm has arranged the sale of two multi-tenant retail buildings at Village Grove Plaza, a Stater Bros. Markets- and Crunch Fitness-anchored shopping center in Corona, California. The sale price was $5.2 million.
Hanley Investment Group’s Executive Vice Presidents Kevin Fryman, Bill Asher and Jeff Lefko, along with President Ed Hanley, represented the seller, a private investment group based in Denver, Colorado. The buyer, a private investor from Corona, California, was represented by Ranhee Im of ANA Capital of Los Angeles.
The Shops at Village Grove Plaza features a freestanding, six-tenant, 9,200-square-foot retail pad building and a two-tenant, 2,400-square-foot shop building adjacent Stater Bros. Markets. Totaling 11,600-square-feet, the buildings were built in 1976 on 0.93 acres at 1240-1282 Border Avenue in Corona and are part of the 56,100-square-foot Village Grove Plaza shopping center anchored by Stater Bros. Markets and Crunch Fitness.
The two buildings included a local tenant mix consisting of dental care, dry cleaners, laundromat, florist, donuts, liquor store, plus hair and nail salons. Village Grove Plaza shopping center sits between two signalized hard corners at Via del Rio and Border Avenue and Via Santiago and Border Avenue. Via del Rio is a connector road to the 91 Freeway, which has 257,000 cars per day.
“We generated multiple offers including two from local buyers that bid up the sales price during one of the most challenging macro-economic environments in the last 10 years due to COVID-19,” said Fryman. “The high level of competitive interest was a testament to the location, grocery anchor and internet-resistant and daily-needs tenant mix. We were able to structure a mutually beneficial closing for both buyer and seller including closing escrow on the 180th day of the buyer’s extended 1031 exchange deadline.”
Fryman continues, “Stater Bros. Markets has operated at this location since 1976 and completing a recent remodel to enhance the store with interior upgrades and updated exterior signage featuring the company’s new logo, were important factors that attracted the buyer to the property. Stater Bros. creates more frequent trips to the center and cross-shopping and visits with the local tenant mix within the shop portion of the property.”
Located adjacent to Orange County, the city of Corona is the third-largest city in the Inland Empire. and has experienced a 27% population increase over the last decade. Currently, there are 194,000 people with an average household income in excess of $103,000 within a five-mile radius of the shopping center. Monster Energy, Zumiez, Jenson Bicycles and Medtronic all have major manufacturing facilities within the city.
In the last six months, Hanley Investment Group has sold $75 million in retail properties in the Inland Empire including a three-tenant shop building and single-tenant Quick Quack Car Wash at the Sprouts-anchored Highland Village Shopping Center in Fontana; a single-tenant Smart & Final Extra! and a four-tenant shop building at the grocery-anchored Eastvale Marketplace Shopping Center in Eastvale; and a two-tenant retail pad building at the Sam’s Club-anchored The Marketplace at Ontario Center in Ontario.
“COVID-19 has had a significant impact on the real estate industry. However, we continue to work with sellers and buyers who are still aggressively looking to source investment opportunities,” Hanley said. “Hanley Investment Group has sold 38 retail properties since COVID-19 was declared a pandemic on March 11. We continue to successfully transact during this historic time in the market and have a steady pipeline of current and future listings along with off-market investment opportunities.”
IECE Presents its Inaugural State of Entrepreneur Report on Dec. 9
The first-ever State of Entrepreneurship Address for the Inland Empire is being held by the Cal State San Bernardino Inland Empire Center for Entrepreneurship on Thursday, Dec. 9, from 5-8 p.m. at 4th Sector Innovations in Ontario.
IECE’s goal in producing the State of Entrepreneurship research study is to bring the voice of local entrepreneurs to those who need to hear it most – local and state policymakers, community organizations, lenders, and other resource providers.
The Voice of the Entrepreneur survey, on which the address is based, sends powerful feedback on the challenges that entrepreneurs and business owners of the Inland Southern California region face.
Survey results were drawn out earlier this year by reaching out to IECE’s extensive network, consisting of more than 10,000 entrepreneurs and business owners representing a diverse group of industries. The IECE will continue to distribute the Voice of the Entrepreneur survey in the spring of each calendar year to find out what Inland Empire entrepreneurs and business owners are going through.
The report is a potent tool for policymakers, economic impact drivers, and business owners and entrepreneurs to analyze growth potential within the region. Using measurable data, the goal is to identify the challenges and opportunities facing local business owners and obstacles that may be impeding business growth.
The result is a concise report that gives insight into how we can effectively learn and evolve together with a regional focus.
The evening will start and end with networking and food; in between, the SOER report will be presented, which includes examining the indicators of entrepreneurial activity and how the IE measures up as a region; learning of the Voice of the Entrepreneur direct survey results and the common themes, as well as an IE Ecosystem assessment; and regional perspectives from influencers that include:
- Rod Vandenbos, founder and CEO, buzzbox beverages, Indio;
- Mike Napoli, Tech Coast Angels, Palm Springs;
- Edward Ornelas, Jr. President, Inland Empire Regional Chamber of Commerce
- Ana Karina Suchánek, president, Cask Restaurant Group, Inc., Rancho Cucamonga; and
- Pepi Jackson, president and CEO, Riverside Black Chamber of Commerce
Click the following link – Secure Your Spot for the 2021 State of Entrepreneurship Address – to attend, network and learn more about entrepreneurship in the region. Whether you are a seasoned or soon-to-be entrepreneur, there is a perspective for everyone who wants to know more about how to strengthen the Inland Empire economy.
The presentation will unveil breakthrough metrics and perspectives on the State of Entrepreneurship throughout the Inland Empire, including:
- Why a report like this is essential for the collective growth of our region;
- What the report consists of: indicators for entrepreneurship and what real entrepreneurs in our communities are telling us through our Voice of the Entrepreneur survey results; and
- Regional perspectives from influencers and officials that are active in our ecosystem.
The event will also include food and cocktails while networking within an inspirational setting at 4th Sector Innovations Ontario.
To learn more, visit the IECE State of Entrepreneurship Report website.
Southwest Airlines will fly from Ontario International Airport, CA, to Austin in 2022
The announcement from Southwest Airlines that it will fly daily nonstop from Ontario International Airport (ONT) to Austin (AUS) starting in March 2022 is welcome news for the Southern California gateway and the Inland Empire.
The announcement from Southwest Airlines that the low-cost carrier will fly daily nonstop from Ontario International Airport (ONT) to Austin (AUS) starting in March 2022 is welcome news for the Southern California gateway and the Inland Empire.
Southwest will offer flights between ONT and Austin-Bergstrom International Airport daily on the following schedule effective March 10, 2022.
|1204||ONT||AUS||10:55 a.m.||3:35 p.m.||Mon – Fri &|
|474||ONT||AUS||9:50 a.m.||2:30 p.m.||Sat||737-700|
|1739||AUS||ONT||4:35 p.m.||5:55 p.m.||Mon – Fri &|
|257||AUS||ONT||2:55 p.m.||4:10 p.m.||Sat||737-700|
The new flights are available for booking immediately at southwest.com.
“The addition of the Texas state capital to our route map is welcomed news and further indication of confidence by ONT’s largest air carrier,” said Alan D. Wapner, President of the OIAA Board of Commissioners. “It is also another sign that ONT’s recovery from the COVID-19 pandemic is well underway and gaining momentum.”
The announcement of the new Southwest flights comes as ONT continues to experience an impressive pandemic recovery. In August, ONT reported passenger traffic was within 7% of pre-COVID levels.
Family Fun Month of Rides, Slides & Glides
Alpine Slide Big Bear Observes Family Fun Month with a Variety of Delights
August is Family Fun Month, and Alpine Slide Big Bear (Alpine Slide) is the premier spot in Big Bear that gives families an opportunity to soak up the joys of summertime fun together. Alpine Slide provides guests of all ages, from toddlers to grandparents, a variety of family-fun offerings, which includes a double waterslide, a mountain coaster thrill ride, a zipline-style flight, the Alpine Slide bobsled experience, go-karts and miniature golf.
“The great thing about having a variety of attractions is it gives families a chance to pick and choose what best appeals to them,” said Alpine Slide Big Bear General Manager Julie Eubanks.
Family Fun Month occurs every August, and undoubtedly August happens to be one of the hottest months that many Southern California communities have to face each year. However, Big Bear is a great place to escape the daunting heat. Not only is Big Bear 20 to 30 degrees cooler than most of Southern California’s hot zones, but Alpine Slide’s double waterslide gives families who seek refuge from the heat an extra bonus to cool off. Kids can splash all day on two flumes of cascading water, turning and banking on the way to a 3 ½ – ft. deep, heated splash pool. Parents can spread a blanket out on the grass, or relax on the shaded, wrap-around deck at the base of the double waterslide.
“Alpine Slide is also home to three attractions that are the first and only in California, which includes the Mineshaft Coaster, the Soaring Eagle, and the Alpine Slide,” added Eubanks. “Each of these rides offers something unique and suitable for all ages.”
Mineshaft Coaster, which is the first and only mountain coaster in California, is an amusement-style, thrill ride that stretches over one mile long on a stainless-steel-tube track. It has all the bells and whistles of a roller coaster such as steep descents, hairpin turns, tunnels, bridges and 360-degree corkscrews. Here’s the kicker…the rider actually controls the speed of the coaster cart, which can reach max speeds of 30 mph.
The Soaring Eagle is a one-of-a-kind ride not seen anywhere else in California either. The Soaring Eagle has dual seats so a parent and child can ride side-by-side. It starts by lifting riders backwards on a zipline cable to a 70-foot tall launch tower. Once it reaches the top, it then catapults forward at 26 mph, on a 100-foot long vertical drop, that travels 500 feet back to the base. The Soaring Eagle not only offers folks an opportunity to experience the sensation of flying, but they are treated to a bird’s eye view of Big Bear Lake and surrounding mountain vistas, too.
Another distinctive attraction on site is the Alpine Slide, which is the only authentic bobsled /luge experience in California. Riders navigate their own individually controlled sleds down a quarter-mile long concrete track with high-banked turns and long straight-aways. Each sled is equipped with Teflon runners, ball bearing wheels, control handle and brakes. Youngsters who meet the height requirements can ride with their parents on this fun-filled feature ride.
Rounding off the family-fun activities at Alpine Slide is a go-kart track, putt-putt golf and video arcade. When it’s time for a break, head inside for an ice-cream cone. An ice-cream bar located at the snack bar offers 12 different tasty flavors to choose from, such as Banana Split, Cotton Candy or Birthday Cake!
Alpine Slide, located at 800 Wildrose Lane (just off Big Bear Blvd.), is open daily. The Summer hours of operation are Sunday through Thursday from 10 a.m.- 6 p.m. and Friday and Saturday from 10 a.m. to 9 p.m. For general information, height requirements, pricing and specific hours for each attraction, please visit AlpineSlideBigBear.com or call 909-866-4626.
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