Michael Rademaker and Tony Hermosillo of MGR Real Estate have closed escrow on a retail center at 4421-4481 Ontario Mills Parkway in Ontario, CA for a final closing price of $11,100,000.
This retail center was built in 1999 and is comprised of 30,336 square feet between four separate buildings, and is 100% tenant occupied. The shopping plaza is directly adjacent to the Ontario Mills shopping mall, which is one of the busiest shopping malls in Southern California with an estimated 60 million annual visitors. The purchased retail center is also in direct proximity to the 1-10 and 1-15 freeways, with immediate access to the Ontario Airport.
With this most recent purchase of the retail center, MGR has diversified its purchases for ownership within the last year to include office, multi-family, and retail properties. This transaction was closed by agents of MGR Real Estate and management services of the retail center have been assumed by MGR Property Management.