MetLife Sells Shopping Center For $138M: The Los Angeles Deal Sheet
MetLife Investment Management sold the Chino Spectrum Towne Center to Brixmor Property Group for $138M.
The roughly 461K SF power center sits at 3801–4097 Grand Ave. in Chino and is 95% leased. CBRE's Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup represented the seller.
The retail center's tenants include the Korean supermarket H Mart, as well as Kohl’s, Five Below, Best Buy, Nordstrom Rack and a mix of regional and local retailers.
Brixmor plans to spend the coming year looking to expand its presence in the Southern California market, which it sees as offering "compelling, accretive opportunities for long-term growth and value creation," Brixmor Chief Investment Officer Mark T. Horgan said in a statement.
PEOPLE
Colliers has hired the four-person industrial team of Stan Kwak, Selden McKnight, Zac Kolander and Jordan Haynes away from Voit to its Irvine brokerage.
The team’s expertise spans a range of industrial property types, including logistics and distribution facilities, manufacturing, last-mile assets, industrial outdoor storage and land. The team’s client portfolio includes institutional owners, Fortune 500 companies and local family-owned businesses.
***
Irvine-based single-family build-to-rent developer BrightSky Residential promoted Donny Fineberg to director, capital markets, where he leads the firm’s joint venture equity platform and is responsible for sourcing, underwriting and structuring investments with institutional and private capital partners.
Fineberg joined BrightSky in 2025 following seven years of experience across real estate financial services, with a focus on acquisitions, development and investments in BTR and multifamily.
***
CBRE hired Patrick McGrath as executive managing director of the firm’s South Bay office. McGrath will lead the market strategy, operations and growth across the South Bay region.
McGrath is a senior commercial real estate executive with more than 20 years of experience in major U.S. markets. Prior to joining CBRE, McGrath served as chief information officer and president for the West region at Savills North America.
SALES
New York Life Real Estate Investors has sold Centerstone Plaza, a 107K SF suburban office campus in Irvine, for $32M to LCBC Development.
The property at 4000, 4010 and 4040 Barranca Parkway consists of three two-story buildings that are 92% leased. The buildings were renovated between 2024 and 2025, and tenants include First Team, Keller Williams, MemorialCare and LifeStance Health.
Centerstone Plaza is located on 6.8 acres in an infill location in Irvine. The property has two on-site restaurants and is surrounded by three major retail centers.
JLL's Michael Leggett, Will Poulsen and Tim Donald represented the seller.
***
CBRE facilitated the $6.5M sale of 9663 Tierra Grande St., a 26K SF, three-story office building in San Diego. A San Francisco-based private 1031 buyer acquired the property.
CBRE’s Matt Pourcho, Anthony DeLorenzo and Scott Kincaid represented the seller, Tierra Grande 3B LLC. The property has nine longstanding tenants with an average historical occupancy of more than 10 years.
***
CBRE negotiated the $6.2M sale of Orange Plaza, a 36K SF office building at 1615 Orange Tree Lane in Redlands. A local owner-user acquired the property.
Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Bryan Johnson of CBRE represented the unnamed corporate seller.
***
MCA Realty Inc. acquired a roughly 225K SF multitenant industrial building with an additional 5.5 acres at 41995 Zevo Drive in Temecula. The firm acquired the property for an undisclosed price from a private investor with its MCA Realty Industrial Growth Fund II.
MCA owns six industrial properties encompassing 1M SF in Southern California.
Cushman & Wakefield’s industrial advisory group led by Jeff Chiate and Bryce Aberg represented MCA Realty and the seller.
