A limited partnership has purchased the 110,359-sq.-ft. Southridge Plaza in Fontana, California for $20.7 million.
Anchored by a Rio Ranch Market, the necessity-based center is strong among Hispanic consumers in this town just east of San Bernardino. Other tenants include Rite Aid, AutoZone, McDonald’s, Subway, Waba Grill, and Cricket Wireless.
“Rio Ranch Market isn’t a national credit grocery brand, however, with eight stores open, it is one of Southern California’s stronger Hispanic supermarket chains,” Donald MacLellan, senior managing partner of Faris Lee, which handled the sales made by Fortress Investment Group.
New owner of Southridge Plaza is Fontana Southridge Partners.