Stockdale Capital Partners and Hamilton Lane Acquire Chino Hills Lifestyle Center for $157 Million

Stockdale Capital Partners, together with funds managed by Hamilton Lane (Nasdaq: HLNE), has acquired The Shoppes at Chino Hills, a 378,140-square-foot open-air lifestyle center located at 13920 City Center Drive in Chino Hills, California, for $157 million. The transaction, announced Sept. 14, 2026, implies pricing of approximately $415 per square foot and marks one of the more significant retail acquisitions in the Inland Empire in recent years.

Stockdale led the acquisition, with Hamilton Lane participating as a co-investor. The deal reflects both firms' stated conviction in high-quality, necessity-based retail destinations situated in high-growth markets. The property was marketed for sale by the CBRE team of Jimmy Slusher, Mark Damiani, James Tyrrell, and Shaya Northrup, operating out of CBRE's Irvine, California office.

Property Overview: A Dominant Inland Empire Retail Destination

Originally developed in 2008, The Shoppes at Chino Hills sits on more than 25 acres at 13920 City Center Drive. The open-air center is designed as a walkable, pedestrian-oriented environment anchored by Trader Joe's and Barnes & Noble, with a curated mix of national retailers, restaurants, and experiential tenants. The property serves a trade area of more than 300,000 residents within a five-mile radius.

Chino Hills is situated approximately 35 miles east of Downtown Los Angeles within the Inland Empire, a metropolitan area with a population exceeding 4.7 million. The center features a central promenade, seasonal events, farmers markets, and family-oriented programming, functioning as a community gathering destination in addition to a retail hub.

The property's prior sale, to Dunhill Partners in 2015, was reported at $147 million, underscoring the asset's appreciation over the intervening decade as the surrounding trade area has continued to grow.

Buyer Rationale: Value-Add Repositioning in a Supply-Constrained Market

Bastian Peters, who along with Jeff Bhathal heads Stockdale's retail platform, characterized the acquisition as an opportunity to acquire a true main-street retail environment in one of Southern California's most supply-constrained submarkets.

"The Shoppes at Chino Hills represents an opportunity to acquire a true 'Main Street' retail environment in one of Southern California's most desirable and supply-constrained submarkets," Peters said. "With its strong demographics, experiential tenant mix, and embedded growth potential, the property aligns perfectly with our strategy of acquiring high-quality retail destinations where we can unlock additional value."

Jeff Bhathal pointed to the market's growth trajectory and the opportunity to attract retailers not yet represented in the trade area. "We view Chino Hills as one of the most compelling retail markets in Southern California," Bhathal said. "Supported by exceptional demographics and the rapid growth occurring throughout Chino Hills, we see a significant opportunity to attract nationally recognized retailers, restaurants, and experiential concepts that are currently underrepresented in the market. Our goal is to build upon the property's strong foundation and further establish The Shoppes at Chino Hills as the region's premier lifestyle destination."

Stockdale's broader retail strategy centers on repositioning, lease-up, and experiential enhancements at high-quality assets. As part of its plans for the property, the firm announced it will rename the center The Shops at Chino Hills, with a full rebranding, remerchandising, and repositioning strategy to be detailed in the coming months.

Hamilton Lane's Retail Thesis

Scott Davies, Co-Head of Real Estate at Hamilton Lane, framed the investment within the firm's broader view of the retail sector as an attractive risk-adjusted opportunity in the current environment.

"We believe the retail sector can present a compelling investment opportunity in today's market, driven by limited supply and strong demand from both consumers and retailers," Davies said. "The presence of a leading grocery anchor, combined with the potential to enhance a value-add open-air center, creates the type of attractive, risk-adjusted investment we are focused on in the current environment."

Hamilton Lane, headquartered in Conshohocken, Pennsylvania, manages approximately $1.1 trillion in assets under management and supervision, including more than $146 billion in discretionary assets, as of June 30, 2026.

Open-Air Retail Sector Context

The acquisition comes as open-air lifestyle centers have demonstrated resilience relative to other retail formats, with consumers gravitating toward accessible, convenience-driven environments that combine shopping, dining, entertainment, and community programming. Retailers have increasingly prioritized high-performing centers that generate strong daily visitation and sustained customer engagement.

"This shift has created a highly competitive leasing landscape, with brands prioritizing high-traffic, necessity-based and lifestyle-oriented centers that consistently deliver strong daily visits and long-term customer engagement," Bhathal said.

Stockdale Capital Partners is a Los Angeles-based, vertically integrated real estate private equity firm with more than $3 billion in assets under management across six offices nationwide. Its portfolio spans healthcare, hospitality, mixed-use, multifamily, office, and retail properties. The firm has been an active retail investor in recent years and has indicated plans to continue expanding its retail platform through acquisitions of high-quality assets.

Sources

• Stockdale Capital Partners — Official Announcement
• Hamilton Lane — Official Announcement