The center, which has direct access from the 71 Freeway and "monument" signage visible to more than 190,000 cars per day, is 98% occupied. The tenant roster by a mix of regional and national tenants including Z Pizza and Kiku Sushi as well as the Harkins theater, the only similar new multiplex in a 10-mile radius. In addition to Chino Hills, the property serves the neighboring cities of Ontario, Diamond Bar, Chino and Montclair.

The buyer was GAS Distomo Inc. of Long Beach, CA, which was represented by Mitch Rosen of Commercial Real Estate Services. Donald MacLellan, senior managing director, and Nicholas Coo, managing director, of Faris Lee Investments in Irvine, CA, represented the Los Angeles-based seller, 26 Del Sur Crossroads I LLC.

According to MacLellan, one of the deal's key components was sourcing a 1031 Exchange buyer with the $6.55 million of equity required to complete the transaction and the willingness and ability to assume an existing $18.98 million loan. The 10-year conduit loan, which comes due in 2016, has a fixed interest rate of 6.2%. It is interest only through 2011, at which point the loan begins to amortize. MacLellan, who says the loan's terms give the buyer with attractive cash-on-cash return, reports Faris Lee Capital, an in-house team of financing specialists, assisted extensively with the loan assumption process.