The property is located in the 710-Acre College Park Master Plan Community in Chino, CA
News Release — Rancho Cucamonga, CA – December 6, 2019 – Progressive Real Estate Partners, the leading Inland Empire retail real estate brokerage firm, announced today the sale of 7.53 acres of commercially zoned land for $2.9M in the College Park Master Planned Community in Chino, California. The property is bordered by Eucalyptus and Oaks Avenues and is the last remaining piece to be developed within the 710-acre community that also includes 2,500 residential units featuring a mix of single-family and multi-family residences, a state-of-the-art clubhouse, fitness center, picnic areas and trails.
Progressive Real Estate Partners Land Specialist Chris Lindholm, exclusively marketed the property and represented both the seller, Lennar Homes, and the buyer, United Trust Realty Corporation (UTRC) in the transaction. Chino Hills-based UTRC is a diversified commercial real estate firm with years of experience in developing a wide range of product types including retail, mixed-use and office projects in Southern California.
Known as the Village Center, plans for the mixed-use project include approximately 15,000 square feet of food and retail uses, a daycare center and a church. In addition to the residents of College Park and the neighboring communities, the property is well-positioned to also serve the adjacent Chaffey College satellite campus (3,700 students) and the 140-acre Ruben S. Ayala Park. The popular park draws an estimated 500,000 visitors annually and features softball and soccer fields, a skate park, batting cages, and multi-purpose trails as well as the Chaffey College Community Center which hosts a variety of events throughout the year.
UTRC has already met with both the City of Chino and Chaffey College to review their development plans and they expect to submit for permits in the upcoming months.
According to Lindholm, “The sale of this property represents the demand for good infill sites in the Inland Empire and the need for coordination between all stakeholders to ensure successful projects in a continually evolving environment. We worked closely with the Seller, the City and Chaffey College to market the land for a mixed-use development that would cater to the trade area and be economically viable. United Trust Realty’s extensive knowledge of the local community combined with their mixed-use development experience made them the ideal buyer for the property.”
About Progressive Real Estate Partners
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga, California. Founded in 2008, the firm specializes in the leasing and sale of retail properties in Southern California’s Inland Empire. The firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception Progressive has completed over 1,000 lease and sales transactions in over 35 cities throughout the region. Progressive uses the latest marketing and brokerage techniques to help retailers and property owners achieve their real estate goals. For further information visit www.progressiverep.com.