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McKinley Crossroads 3 Retail Properties Offered at $51,790,818 CAD in Corona, CA
Investment Highlights
- Irreplaceable Freeway Fronting Community Center – McKinley Crossroads offers one of the most strategic locations in the Inland Empire
- Low Rents Create Long Term Embedded Value – Current in-place rents average only $1.25 PSF/mo. NNN,
- Strategic, High Identity/High Traffic Intersection – Ideally positioned along McKinley Street (±38,000 CPD)
- Below Replacement Cost Acquisition Opportunity
- Stabilized Center with Upside – At 94% occupancy and with long-term leases in place
- Expansive Site, Favorable Zoning – The large site encompasses ±13.54 acres, with ample parking, and General Commercial zoning
Executive Summary
* Irreplaceable Freeway Fronting Community Center – McKinley Crossroads offers one of the most strategic locations in the Inland Empire, with over 1,700 of frontage along Interstate 91 proximate to Interstate 15, featuring “daily-needs” anchor 24 Hour Fitness along with national and regional credit tenants Sherwin Williams, Dunn-Edwards, STGI (Corona VA Clinic), Gracie Barra, and Smart Parke, situated within an established, infill Western Inland Empire trade area
* Below Replacement Cost Acquisition Opportunity – At the anticipated pricing, McKinley Crossroads is expected to trade at a deep discount to its land-inclusive replacement cost, estimated to exceed $300 PSF
* Low Rents Create Long Term Embedded Value – Current in-place rents average only $1.25 PSF/mo. NNN, which is approximately 8% below the estimated market rate, enhancing the security of the in-place tenancy and long-term embedded value
* Stabilized Center with Upside – At 94% occupancy and with long-term leases in place including Corona VA Clinic (2046 exp.), 24 Hour Fitness (2036 exp.), Carpet One (2035 exp.), Touch N Go Soccer (2034 exp.), and Smart Parke (2034 exp.), McKinley Crossroads boasts stable tenancy with 7.00 years of weighted-average lease term remaining (WALT) and an immediate upside opportunity through the lease-up of the 11,511 SF of vacancy
* Strategic, High Identity/High Traffic Intersection – Ideally positioned along McKinley Street (±38,000 CPD), one of the major arterials in Corona, framed by Sampson Ave and Gibson Ave E (±9,000 CPD). McKinley Crossroads fronts Interstate 91 Fwy (±220,000 CPD), within close proximity to Interstate 15 (±225,195 CPD), making it easily accessible to the vast majority of Southern California and providing convenient regional accessibility to the immediate surrounding Inland Empire and adjacent Orange/LA counties
* Expansive Site, Favorable Zoning – The large site encompasses ±13.54 acres, with ample parking, and General Commercial zoning allows for a multitude of uses to serve the surrounding residential and commercial density, further enhancing the long-term value preservation at the property
* Below Replacement Cost Acquisition Opportunity – At the anticipated pricing, McKinley Crossroads is expected to trade at a deep discount to its land-inclusive replacement cost, estimated to exceed $300 PSF
* Low Rents Create Long Term Embedded Value – Current in-place rents average only $1.25 PSF/mo. NNN, which is approximately 8% below the estimated market rate, enhancing the security of the in-place tenancy and long-term embedded value
* Stabilized Center with Upside – At 94% occupancy and with long-term leases in place including Corona VA Clinic (2046 exp.), 24 Hour Fitness (2036 exp.), Carpet One (2035 exp.), Touch N Go Soccer (2034 exp.), and Smart Parke (2034 exp.), McKinley Crossroads boasts stable tenancy with 7.00 years of weighted-average lease term remaining (WALT) and an immediate upside opportunity through the lease-up of the 11,511 SF of vacancy
* Strategic, High Identity/High Traffic Intersection – Ideally positioned along McKinley Street (±38,000 CPD), one of the major arterials in Corona, framed by Sampson Ave and Gibson Ave E (±9,000 CPD). McKinley Crossroads fronts Interstate 91 Fwy (±220,000 CPD), within close proximity to Interstate 15 (±225,195 CPD), making it easily accessible to the vast majority of Southern California and providing convenient regional accessibility to the immediate surrounding Inland Empire and adjacent Orange/LA counties
* Expansive Site, Favorable Zoning – The large site encompasses ±13.54 acres, with ample parking, and General Commercial zoning allows for a multitude of uses to serve the surrounding residential and commercial density, further enhancing the long-term value preservation at the property
Property Facts
| Price | $51,790,818 CAD | Number of Properties | 3 |
| Price / SF | $261.58 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7.25% | Total Building Size | 197,995 SF |
| Sale Type | Investment | Total Land Area | 13.54 AC |
| Status | Active |
| Price | $51,790,818 CAD |
| Price / SF | $261.58 CAD / SF |
| Cap Rate | 7.25% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 197,995 SF |
| Total Land Area | 13.54 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 284 DuPont St, Corona, CA 92879 | Retail | 77,896 SF | 1990 | - |
|
McKinley Crossroads
280 Teller St, Corona, CA 92879 |
Retail | 73,671 SF | 1989 | - |
|
McKinley Crossroads
275 Teller St, Corona, CA 92879 |
Retail | 46,428 SF | 1989 | - |
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Contacts
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Jimmy Slusher -
Mark Damiani -
James Tyrrell -
David Swerdlow -
Nicole Bose -
CBRE, Inc.
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McKinley Crossroads
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