Passco Companies acquires center for $15.8 million

Rancho Cucamonga, Calif. -- Passco Companies has acquired Day Creek Village located in in Rancho Cucamonga, California for $15.8 million.



Day Creek Village is a neighborhood shopping center in the second largest submarket in California’s Inland Empire market. The 25,002 sq. ft. center is 100% leased and is shadow-anchored by a Ralph’s grocery store, and currently has 14 tenants, including Starbucks, Wells Fargo, Super Cuts, Subway, and Orange Theory Fitness.



“This property is a strong addition to our portfolio based on its excellent tenant mix and local demographics,” explains Bob Peterson, VP of retail acquisitions for Passco Companies. “We continue to seek stabilized retail assets in growing markets with the potential for strong performance over time. This center has generated positive cash flow since it was built. It is located in a growing market, and has commanded increasing asking rates over the last two years.”