Commercial Real Estate
SRS Completes $54 Million Sale of Newly Built Grocery Anchored Shopping Center in Ontario, CA

SRS Real Estate Partners’ Investment Properties Group (IPG) announced today it has completed the $54 million sale of New Haven Marketplace, a 95,000-square-foot grocery-anchored shopping center located at 3420 E. Ontario Ranch Road in Ontario, CA (San Bernardino County).
Senior Vice President Pat Kent and Senior Associate Parker Walter with SRS represented the seller, a California-based developer. The buyer, a California-based family office was represented by Glenn Rudy of Newmark.
Built in 2020, New Haven Marketplace is situated on 10.6 acres and is fully occupied by Stater Bros., Starbucks, Chase Bank, Carl’s Jr., Great Clips, Rodeo X Public Market and Brew Haven.
“SRS secured several offers on the asset and selected a qualified buyer who assumed the property’s existing loan,” said Kent. “This recently developed grocery-anchored shopping center is well-situated within a highly desirable area that is rare to find in today’s market.”
This property had been marketed by another brokerage firm but was unable to transact. SRS’ unique marketing approach enabled the firm to reach a much broader market which developed multiple offers and a successful sale at a competitive price. SRS’ specialization in retail properties with nationwide resources provides a significant advantage in structuring complex transactions.
This sale represents the lowest cap rate for a grocery-anchored shopping center in California over $50 million over the last 12 months, per CoStar.
Walter added, “This property includes Rodeo X, a market hall. Market halls are extremely popular and add tremendous value and tenant synergy to retail projects and shopping centers. Market halls such as Rodeo X provide consumers an environment with several food options, a place where you would like to spend time and elevates the overall experience for consumers in the community.”
The property is located at the signalized intersection of Ontario Ranch Road and Haven Avenue and is just two miles west Interstate 15. It is also near a number of other major retailers including The Home Depot, Walmart, Target, Costco, and T.J. Maxx, among others. There are more than 220,000 residents and more than 89,000 employees within a five-mile radius of the property.
In 2022, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $2.9 billion in deal volume comprised of 760 transactions in 48 states. SRS currently has in excess of 445 properties actively on the market with a market value surpassing $2.2 billion.
Commercial Real Estate
Affinius Capital and McDonald Property Group Execute Pre-Lease with Otto Cap at The HUB @ Ontario International Airport

Affinius Capital and McDonald Property Group are pleased to announce the signing of a major lease with Otto International, Inc., at The HUB. This 254,677-sq.- ft.-building lease located at 3551 East Jurupa Street, City of Ontario establishes The HUB’s first lease at its premier master-planned logistics park in Ontario, Calif. It has been secured six months prior to the scheduled completion of its initial Phase 1 of the project totaling two million sq. ft. consisting of four buildings.
The project ownership is CanAm Ontario, LLC, which consists of a notable Canadian pension fund, an investment affiliate of Affinius Capital, and McDonald Property Group. CanAm Ontario recently executed a 55-year ground lease with Ontario International Airport Authority to develop the entire 200-acre site.
“Securing this lease ahead of completion underscores the appeal of The HUB’s quality and location adjacent to Ontario International Airport,” said Eddie Gonzalez, managing director of asset management for Affinius Capital. “We are privileged that Otto International selected our Inland Empire development and pleased to count them among the companies we serve throughout our global industrial and logistics portfolio.”
Otto International committed to this long-term 154-month lease with CanAm Ontario to satisfy its expansion and future growth needs. The building will operate to scale up Otto’s next day’s shipping promise at larger volumes and reduce costs through new fulfillment automation integrated in the facility. With over 70 years of experience, Otto has established itself as a leading global manufacturer of quality headwear with 20,000 active wholesale partners.
“Otto is extremely proud to partner with Affinius Capital and McDonald Property Group in the development of our soon-to-be flagship West Coast Distribution Center in Ontario, California,” stated Mr. Razgo Lee, Chief Executive Officer of Otto International. “Our new robotic automated facility at The HUB will allow us to streamline our West Coast logistical hub and distribution point as the premier tenant in this amazing facility. We are honored to participate in such a monumental project which will support our growth plan and commitment to our valued customers.”
Darla Longo, Barbara Perrier, Walt Arrington, Joey Sugar and Joe Werdein represented McDonald Property Group and Affinius Capital in the lease transaction. Dylan McDonald and Dillon Dummit of Savills International represented Otto International.
Situated directly across from Ontario International Airport (ONT) in San Bernardino County, the project is notable for its scope, location, timeline and complexity. It will also be one of the first large-scale developments in Southern California to incorporate an innovative carbon-reduction system for the slab, tilt wall panels and paving as part of Affinius Capital’s strategic plan for achieving its environmental sustainability goals through concrete decarbonization methods. Multiple strategies for incorporating concrete decarbonization, sustainable elements and achieving LEED® Gold certification for this industrial development were identified. The carbon reduction of emissions volume resulting from this project, as compared to conventional concrete design for industrial projects, will achieve 35% less embodied carbon from a conventional concrete design or approximately 44,000 tons less embodied carbon released into the atmosphere across the entire HUB development.
Commercial Real Estate Transactions
Hanley Investment Group Arranges Sale of Chipotle Mexican Grill and Starbucks Drive-Thru in Rancho Cucamonga, Calif., for $6.22 Million

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 arranged the sale of two stand-alone buildings occupied by a Chipotle Mexican Grill and the adjacent Starbucks Drive-Thru in Rancho Cucamonga, California. The sales price was $6.22 million.
Hanley Investment Group’s Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller, Chase Partners Ltd., based in Glendale, California. The buyer, a private investor based in Los Angeles, was represented by Shirley Kim at Epique Realty, also of Los Angeles.
The property involved a complete rehabilitation of the facility and the expansion of Starbucks by the developer, Chase Partners Ltd., a leading retail and industrial developer in Southern California since 1993. Chase is an active developer of Starbucks and Chipotle sites, as well as other name-brand retail developments, with a dozen projects currently underway. Michael Carter served as the project manager for Chase.
“We generated multiple qualified offers primarily from Southern California-based buyers and leveraged our extensive broker relationships to procure a repeat all-cash buyer, ensuring a smooth and timely closing by year-end,” said Asher.
Built in 2003, the two freestanding properties occupied by a 2,508-square-foot Chipotle Mexican Grill and a 4,000-square-foot Starbucks Drive-Thru sit on a 1.31-acre parcel located at 10811-10831 Foothill Boulevard, near the signalized intersection of Foothill Boulevard (U.S. Route 66 with over 32,000 cars per day) and Aspen Avenue.
Starbucks (NASDAQ: SBUX) recently signed a new 10-year extension, expanding into the adjacent 2,500-square-foot space for a total of 4,000 square feet, showing its continued long-term commitment to this location. The Rancho Cucamonga Starbucks is a top 15% location nationwide, based on customer traffic (Placer.ai). Starbucks is the largest coffee house chain globally, with approximately 40,199 stores in 84 countries, and Fortune ranked it as one of the “World’s Most Admired Companies” from 2009 to 2024.
Chipotle (NYSE: CMG) is ranked on the Fortune 500 and is recognized on Fortune’s Most Admired Companies 2024 list and Time Magazine’s Most Influential Companies. There are over 3,600 restaurants in the United States, Canada, the United Kingdom, France, Germany, and Kuwait and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe.
According to Asher, Chipotle has nine years remaining on its lease, having recently extended early for five years, demonstrating its ongoing investment in the site. The Rancho Cucamonga Chipotle is a top 25% location in California, based on customer traffic (Placer.ai).
Chipotle and Starbucks are located across from Terra Vista Town Center, one of Rancho Cucamonga’s most established and premier regional shopping centers. The 645,000-square-foot Terra Vista Town Center is ranked within the top 25% of power centers nationwide, based on customer traffic, according to Placer.ai. The center is anchored by Target, Hobby Lobby, and LA Fitness, along with other national tenants including Ross Dress for Less, Michaels, HomeGoods, Panera Bread, Wells Fargo, CVS, Bank of America, and Five Below. The property is ideally situated in the center of the city within minutes of the 10, 15, and 215 freeways. The property is located next to Rancho Cucamonga’s 44 million square feet of office and industrial space, which combined employs over 65,000 employees.
The population of Rancho Cucamonga grew 53.5% from 2010 to 2020. Within one mile of the property, the population experienced a 317.8% growth in population from 2010 to 2020. More than 276,000 residents with an average household income in excess of nearly $113,000 are within a five-mile radius.
Asher added, “It was one of our most sought-after listings in 2024, receiving significant interest and activity from both buyers and brokers. The combination of two corporate leases with two of the most recognizable national credit QSR tenants in the U.S., both with a 21-year operating history at the site, made it a highly desirable investment.”
Commercial Real Estate
Valore Ventures Sells SoCal Single-Tenant NNN Retail Property

1031 Exchange Features Long-Term Ground Lease with McDonald’s and Newly Constructed Drive-Thru Restaurant
Valore Ventures has closed on the ground lease sale of a new, 3,895-square-foot dual lane drive-thru restaurant at 18150 Arrow Boulevard in Fontana, California. The 20-year, nearly one-acre ground lease was signed with leading global food-service retailer McDonald’s in September and construction was completed late December.
SRS managing principals Matthew Mousavi and Patrick Luther represented Valore Ventures in the 1031 exchange transaction that closed at a cap rate of 3.7 percent. The buyer, a private trust, was represented by Marcus & Millichap Senior Vice President Joe Linkogle.
“We purchased the parcel in July, and now are pleased to deliver a terrific location for McDonald’s, which plans to open its doors shortly,” said Kenny De Angelis, principal of Valore Ventures.
The quick service restaurant is optimally positioned at the intersection of Locust Avenue within a Stater Bros.-anchored shopping center along a major retail thoroughfare and minutes from downtown Fontana.
“Valore Ventures is looking at additional single-tenant, triple-net-lease acquisition opportunities and development sites,” noted DeAngelis.
Beverly Hills-based Valore Ventures invests in operating companies, commercial real estate and the redevelopment of diverse value-add properties.
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