Updated Dec 29, 2025
Phillips Edison & Company Sells Sierra Del Oro Towne Centre In Corona For $38.2M
2621 Green River Road
$38,200,000
$345/SF
Building Size
110,485 SF
Asset Type
Retail
Closing
Dec 19, 2025
About this deal
AI
The asset involved in this transaction is the Sierra del Oro Towne Centre, a fully leased retail property located at 2621-2721 Green River Road in Corona, California. This retail center has a total square footage of 110,485 and was sold for a price of $38,200,000, translating to approximately $346 per square foot. The property features tenants such as Ralphs and Dollar Tree, and was built in 1991. It is situated in an affluent Southern California submarket.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $38,200,000
- Sale Date: 12/19/2025
- Address: 2621-2721 Green River Road
- Market: Corona
- Square Footage: 110,485
- Price Per Square Foot: $346
- Seller: Jeffrey S. Edison - Phillips Edison & Company
- Buyer's Representative: Jesse Millman - Newmark
- Seller's Representatives: Kevin Fryman & Edward Hanley - Hanley Investment Group
Jeffrey S. Edison represented Phillips Edison & Company in the sale of the property. The buyer was represented by Jesse Millman from Newmark, while the seller was assisted by Kevin Fryman and Edward Hanley from Hanley Investment Group. The buyer is a private investor based in Northern California, utilizing a 1031 exchange for this transaction.
On the Map
$38,200,000
$345/SF
Retail
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Players
Corona Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93