Large Retail Center Sells For $138 Million In IE

CHINO, CA — A large retail center in the Inland Empire — anchored by Walmart, Kohl’s, H Mart, and others — has sold for $138 million, it was announced Tuesday.

The 461,269-square-foot Chino Spectrum Towne Center, located at 3801–4097 Grand Avenue, just off state Route 71, was sold to New York-based public REIT Brixmor Property Group.

CBRE represented the seller, MetLife Investment Management, the institutional asset management business of MetLife, Inc.

Chino Spectrum Towne Center features national tenants including H Mart, Kohl’s, Five Below, Best Buy and Nordstrom Rack, as well as a mix of regional and local retailers, service providers and restaurants. The property also benefits from shadow anchors Walmart and Sam’s Club.

The center is currently 95% leased, and there was competitive bidding for the property, according to CBRE.

"CBRE attracted strong offer activity from a broad range of buyers, including nationwide institutional investors, public and private REITs, private 1031 exchange participants and high‑net‑worth family offices," said Irvine-based Jimmy Slusher, who works as part of CBRE's National Retail Partners. "This demand was driven by evolving consumer trends, the prevalence of all‑cash investments and the increasing densification of markets such as Chino."

Slusher, along with CBRE's Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup, represented the seller.

Mark T. Horgan, executive vice president and chief investment officer of Brixmor Property Group, said the acquisition adds to his company's "external growth strategy."

"These strategic acquisitions continue our clustering strategy by further strengthening our presence in suburban Denver and Southern California," Horgan said. "Building on the momentum from 2025, we are excited to continue pursuing similar value-add opportunities to put our operating platform to work in the year ahead."