Chino – BevMo BevMo has been frustrated by the diminished condition of the Chino Hills center they are currently located and will leaving to relocate to the City of Chino. This is another big blow to the struggling northern section of the Chino Hills Marketplace located at Peyton Drive and the 71 Freeway.
BevMo, a big box retailer that specializes in beer, wine, and spirits, will be relocating to the empty storefront where Party City used to be in the Chino Spectrum.
BevMo has applied for two alcoholic beverage control licenses that include one for alcohol tasting, they will be in front of the Chino Planning Commission for approval next week.
The news came as a surprise to Chino Hills Mayor Peter Rogers and members of the Chino Hills Planning Commission even though city staff members have known about it for a month.
City officials were aware that BevMo was looking for a location but thought they were trying to stay in Chino Hills, no one had heard of its commitment to Chino.
Planning Commission Chairman Stephen Romero said he was not aware of the move either but wasn’t surprised that tenants are fleeing the shopping center.
Reports state that City Manager Rad Bartlam sent a memorandum to the council and the three commissions, department directors, and other staff members, announcing BevMo’s move to Chino. The memo also contained an update on the shopping center.
The shopping center was once owned by a group of investors called CRCH LLC, led by developer Lloyd Yeonsu Lee.
The investment group defaulted on its loan last year, not long after plans for an Asian-themed complex with 120 apartments fell apart.
The county assessor shows the investment group Peyton Drive Holdings LLC as the current owner according to care of CW Capital Asset Management LLC.
U.S. Bank sold the property to an investment company called Lakha for $34.2 million, the very same group that previously owned the shopping center and sold it to Mr. Lee’s group.
Lakha then sold the property to CW Capital for the same amount.
Over several years the much maligned shopping center has lost Sport Chalet, Best Buy, and SteinMart.
A damaged slope and water line in the back of the shopping center led to the city restricting access to the center which has prevented truck deliveries.
The remaining large stores are PetSmart, Bed, Bath and Beyond, and Dollar Tree. It has been reported that PetSmart has expressed interest in relocating but is approaching a potential move slowly.
Sales for Bed Bath and Beyond have continued to steadily decline like many other big box stores have over the last few years.
Dollar Tree has not indicated an interest in moving out of the center.
The northern end of Crossroads Marketplace also includes Wendy’s, Fazoli’s, 85 C Bakery Cafe, and others.