Investment and restructuring company Red Mountain Retail Group shopping in Southern California.
The Santa Ana-based company acquired Country Fair Shopping Center, a 168,264 square foot multi-tenant neighborhood shopping center for $42.3 million. Ownership records show Kimco Real Estate owned the property 11901-12089 Central Ave in Chino, California, at the western end of San Bernardino County, bordering Los Angeles County to the west and Orange County to the south.
Newmark announced the agreement, withPete Bethea, Rob Ippolito and Glenn Rudy representing the seller.
“Red Mountain Group continues to be aggressive in its pursuit of acquiring quality retail businesses in Southern California and beyond,” Rudy said in a statement.
The mall near Highway 60 was 92% occupied at the time of the sale. It is anchored by Albertson and understand PetSmart, Ritual Aid, dollar tree, Port freight tools, American tires, Permanent Kaiser and Sherwin Williams.
The deal comes after Red Mountain sold a Amazon fees LA Westside grocery store for $35 million in September 2021. And last year, Kimco made national waves by acquiring Real estate investors Weingartenowner of 159 grocery-anchored retail centers on the West Coast and Sun Belt, for approximately $3.87 billion in cash and stock.
Gregory Cornfield can be reached at [email protected].