FONTANA, CA-USAA Real Estate has acquired the Summit Heights Gateway retail center – a “destination” retail center that spans 248,402 square feet. The retail property is, as of press time, 90% leased and has 23 tenants including Marshalls, Kohls, PetSmart and Staples. Investco Advisors sold the retail property to USAA.
According to a statement from the company, USAA Real Estate Chairman and CEO, Pat Duncan, said “The asset will complement the Fund’s portfolio of quality properties and strong credit tenants while expanding our presence in this growing West Coast market,” in regards to the acquisition.
Summit Heights Gateway is located north of Interstate 210 near Interstate 15. The nearby North Fontana residential community is able to take advantage of the center’s proximity and, according to the same statement, this area is poised for growth.
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