Rancho Cucamonga’s retail landscape may witness some interesting development as one of its retail properties enters the market for sale. JLL, a leading real estate services firm, is bringing to the market an investment opportunity for companies looking to expand their footprint in this important Southern California submarket. The 105,522-square-foot Sunrize Center, located at 8601 Base Line Rd., offers a fully occupied property. With an asking price of $29 million, or approximately $275 per square foot, it provides investors with an attractive prospect for both immediate returns and future potential.
Situated in San Bernardino County, Sunrize Center benefits from its advantageous location just south of the 210 Freeway. The shopping center occupies a high-visibility spot at the intersection of Base Line Rd. and Carnelian St., with daily traffic counts of 23,000 and 31,000 vehicles, respectively. This prime location ensures exposure and accessibility for the center’s tenants and draws significant foot traffic, according to its marketing flyer.
The surrounding area boasts a growing customer base, with an increasing affluence index. Within a one-mile radius, average household incomes exceed $131,000, reflecting a strong consumer base with significant purchasing power. The center’s long-standing family-owned tenant operators provide essential services to the community, creating a stable customer flow and contributing to the center’s overall success.
Investment highlights include:
- Grocery Anchored with Potential to Expand: Sunrize Center is anchored by Smart & Final, providing a stable and essential grocery component. There is also potential for future expansion, allowing investors to capitalize on the growing demand for retail space.
- Long-Term Tenancy and Strong Historical Occupancy: The property enjoys full occupancy, with a diverse and stable tenant base. Approximately 65 percent of the current tenants have been operating successfully at Sunrize Center for over 15 years, highlighting the long-term viability and appeal of the location.
- Favorable Zoning: The center benefits from favorable zoning regulations, offering the potential for redevelopment or upzoning projects. This allows investors to explore further value-creation opportunities in the future.
- E-Commerce Resistant Tenants: The retail tenants at Sunrize Center have proven to be resilient against the challenges posed by e-commerce. The property’s mix of essential services and community-driven businesses ensures continued foot traffic and sustained demand.
- Upside with Mark-to-Market Opportunities: Sunrize Center offers an upside potential through mark-to-market opportunities. As the market evolves and demand possibly increases, rental rates could be adjusted to reflect the prevailing market conditions, resulting in increased income potential for investors.
- Recent Capital Improvements: The property has undergone recent capital improvements, ensuring that it maintains its competitive edge and meets the evolving needs of both tenants and customers. These improvements provide a solid foundation for continued success and future growth.
JLL’s Bryan Ley and Tim Kuruzar are facilitating the sale.
