Victoria Gardens Sold
A partnership led by Redwood West and Panattoni acquired Victoria Gardens in Rancho Cucamonga for $530 million and plans a $50 million renovation. The deal — a 1.2 million‑square‑foot open‑air mall buy on March 2026 — signals sustained institutional capital flow into the Inland Empire and possible adaptive‑reuse or last‑mile impacts nearby.
Brookfield Properties [sold] the asset to the joint venture, an Ares Real Estate fund [provided] the acquisition financing, and Eastdil Secured [brokered] the transaction. connectcre.com The buyer group is a joint venture led by Redwood West and Panattoni with Prime Finance and Prism Places as partners, and Prism Places has been tapped to run leasing, operations and property programming. rebusinessonline.com Market-facing performance figures released by the new owners show roughly 14.7 million annual visitors, more than $1,100 in sales per square foot, about 160 specialty retailers, and a 25‑minute trade area population of roughly 2.2 million with an average household income near $138,000. citybiz.co The site covers about 147 acres inside the Inland Empire and sits roughly 43 miles east of downtown Los Angeles, while Panattoni’s development record includes logistics projects in Rialto, Chino and Ontario—facts that underscore the JV’s on‑the‑ground capacity to consider peripheral redevelopment or last‑mile opportunities around the property. ocbj.com
