MetLife Sells Chino Spectrum Towne Center to Brixmor for $138M

MetLife Investment Management sold the Chino Spectrum Towne Center, a 461,269 SF power center at 3801-4097 Grand Avenue in Chino, California to Brixmor Property Group for $138 million. The property was 95% leased at closing and anchored by a newly opened H Mart, with shadow anchors Walmart Supercenter and Sam's Club. CBRE represented MetLife in the sale, which attracted competitive bidding from institutional investors, public and private REITs, and family offices. The center draws more than 14 million visitors annually.