The neighborhood complex, known as Mountain Village Plaza, is located at 12801-12887 Mountain Ave. Anchored by Ralphs grocery store, the property was 95% occupied at the time of sale. It encompasses approximately 100,000 sf, according to Alan Krueger of Marcus & Millichap Real Estate Investment Brokerage Co. who worked on the transaction. Mountain Village Plaza is located "in an area that is in growth," Krueger tells GlobeSt.com, explaining that a lot of new housing is being built in the region, which is "what the buyer wants long-term."
An entity known simply as Dermot Mountain acquired the property from Prince Mountain Village Properties. Krueger and Douglas Froehlke of Marcus & Millichap's Ontario office brokered the transaction. According to Krueger, it was a five-month period from the time the property was listed until escrow closed.
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