CBRE Brokers $138 Million Sale of Chino Spectrum Towne Center

CBRE has announced the sale of Chino Spectrum Towne Center, a 461,269-square-foot H Mart-anchored power center located in Chino, to New York-based public REIT Brixmor Property Group.

Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE’s National Retail Partners – West represented the seller, MetLife Investment Management, the institutional asset management business of MetLife, Inc.

Chino Spectrum Towne Center, located at 3801-4097 Grand Avenue in Chino, is a premier retail destination currently 95% leased. The center features a strong lineup of national tenants, including newly opened H Mart, Kohl’s, Five Below, Best Buy and Nordstrom Rack, complemented by a diverse mix of regional and local retailers, service providers and restaurants. The property also benefits from shadow anchors Walmart Supercenter and Sam’s Club, enhancing its position as a dominant retail hub in the Inland Empire.

“Chino Spectrum Towne Center’s recent grand opening of America’s largest Asian-focused specialty supermarket chain adds to the existing grocery offerings from Sam’s Club and Walmart in making the property a regional destination,” said Slusher. “This combination of specialty and value-oriented anchors is particularly attractive to investors, as evidenced by the competitive bidding for Chino Spectrum Towne Center. Across the market, there is continued strong investor demand for high-performing, wholly owned grocery-anchored centers, especially those with vintage rental structures, which offer stability and the potential for future rent increases.”

Slusher added, “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. This demand was driven by evolving consumer trends, the prevalence of all-cash investments and the increasing densification of markets such as Chino.”

“We are excited to advance our external growth strategy with the addition of two vibrant grocery-anchored assets in high-barrier-to-entry markets that offer compelling, accretive opportunities for long-term growth and value creation. These strategic acquisitions continue our clustering strategy by further strengthening our presence in suburban Denver and Southern California,” commented Mark T. Horgan, executive vice president, chief investment officer of Brixmor Property Group. “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.”

Chino Spectrum Towne Center offers prime regional accessibility, generating more than 14 million trips per year with its location just off State Route 71 and featuring 4,387 feet of linear frontage that enhances visibility and convenience. The property comprises 20 separately owned parcels, providing flexibility and diversity of ownership. Demonstrating strong performance metrics, the center boasts a weighted average lease term (WALT) of 4.14 years. Further underscoring its stability and appeal, 89% of the offering is leased to national or regional credit tenants.

Slusher, Fetrow, Tyrrell, Damiani and Northrup, based in CBRE’s Irvine office, handle National Retail Partners retail investment assignments in the western states, representing U.S. retail investors.

Information for this article was sourced from CBRE.