Upland Plans Million-Square-Foot Retail Center
Two real estate firms announced the development of a 110-acre retail project planned along a new freeway extension being built in Upland, Calif.
The Colonies-Pacific, a joint partnership by Rancho Cucamonga, Calif.-based Colonies Crossroads Inc., an investor in the property, and shopping-center developer Pacific Development Group of Newport Beach, Calif., will be built at the intersection of Campus Avenue and the Foothill Freeway (I-210) extension.
The one-million-square-foot project will accommodate more than 30 tenants, including two 125,000-square-foot department stores, two 75,000-square-foot discount retailers, a movie theater with up to 20 screens, and restaurants and smaller fast-food eateries.
Dan Richards, co-chairman of Colonies Crossroads, said the company is close to signing Kohl’s department store and expects to announce new tenants later this year.
“We’re receiving strong tenant interest [from those] who see the opportunities and excellent demographics in this trade area,” Richards said.
The center will draw upon the 400,000 residents who live within a 30-mile radius, including shoppers from Glendora, La Verne, Fontana, Claremont and Rancho Cucamonga. The average annual household income within one mile of the center is more than $100,000.
Richards said the center fills a retail need in an underserved area. Ontario Mills and Montclair Plaza, both along the I-10 Freeway and about 12 miles away, are the nearest competitors.
The Colonies-Pacific was originally approved as a 60-acre development but was enlarged in conjunction with the 28-mile freeway extension to meet the needs of the growing area.
The venture will be part of a 434-acre master-planned community comprised of 1,100 single-family homes and 60 acres of parks, lakes and greenbelts.—Nola Sarkisian-Miller
