Plaza Continental Group: SARE Filing for Ontario CA Retail Center

Plaza Continental Group LLC, owner of a 120,000-square-foot retail and office center in Ontario, California, filed a voluntary chapter 11 petition on March 30, 2026, in the U.S. Bankruptcy Court for the Central District of California (Case No. 8:26-bk-10986-MH). The case is classified as single asset real estate, giving the debtor approximately 90 days to file a confirmable plan or begin making interest payments to the secured lender. The petition reports estimated assets of $10-50 million and liabilities of $10-50 million. The property, located at 3700-3760 Inland Empire Boulevard on I-10 near Ontario Mills and Ontario International Airport, had approximately 24% of its space listed as available for lease at the time of filing.

Debtor(s)	Plaza Continental Group LLC
Court	U.S. Bankruptcy Court, Central District of California (Santa Ana Division)
Case Number	8:26-bk-10986-MH
Petition Date	March 30, 2026
Judge	Hon. Mark D. Houle
Classification	Single Asset Real Estate (SARE)
Estimated Assets	$10M-$50M
Estimated Liabilities	$10M-$50M

Property Overview

Plaza Continental is an open-air retail and office center at 3700-3760 Inland Empire Boulevard, Ontario, CA 91764, in San Bernardino County. The property sits on I-10 with approximately 237,000 average daily traffic count near the Haven Avenue off-ramp. Nearby traffic generators include Ontario Mills mall, Ontario International Airport, Toyota Arena, and TopGolf.

The center is zoned for general office, medical office, retail, fitness, banquet hall, call center, trade school, church, and childcare uses. Known tenants include Keller Williams Realty, Century 21 Town & Country, and American Empire Realty. Approximately 29,327 square feet (24%) was listed as available for lease through Axiom Retail Advisors at the time of filing.

Ownership

Plaza Continental Group LLC was formed in July 2015 as a California LLC. The entity's principal office is at 520 Newport Center Drive, Suite 480, Newport Beach, California. Rafael Duarte of Newport Beach is listed as manager. The entity was in active/good standing with the California Secretary of State as of its March 2025 Statement of Information.

Causes of Distress

The petition does not include a first-day declaration, which is common for small SARE cases. Available records indicate several factors:

Vacancy. Approximately 24% of the center's leasable area was being marketed at filing. Sustained vacancy at this level reduces debt service coverage on a commercial mortgage.

Debt service. The petition reports liabilities in the same $10-50 million range as assets, consistent with a property near or at negative equity.

Prior litigation. CBRE, Inc. sued Plaza Continental Group in Los Angeles County Superior Court on March 1, 2022, in a contract dispute likely related to a brokerage commission or leasing agreement. Summary adjudication was denied October 27, 2023, and a jury trial was set for February 2024.

Separately, Hoang Minh Le obtained a default judgment of $11,742 against Plaza Continental on March 6, 2024, in the Central District of California (Case No. 5:23-cv-01872) for ADA and Unruh Civil Rights Act violations. Plaza Continental did not respond to the complaint.

SARE Classification

The single asset real estate designation under 11 U.S.C. Section 362(d)(3) imposes a compressed timeline. The debtor must file a plan with a reasonable possibility of confirmation within approximately 90 days of the petition date (around June 28, 2026) or begin making monthly interest payments to the secured creditor at the non-default contract rate. If neither condition is met, the secured lender can move for relief from the automatic stay and resume foreclosure.

Professional Retentions

William J. Wall of Wall Law Office (Aliso Viejo, California) serves as debtor's counsel. No financial advisor, investment banker, or claims agent has been disclosed.

Key Timeline

Frequently Asked Questions

Who owns Plaza Continental?

Plaza Continental Group LLC, managed by Rafael Duarte of Newport Beach, California. The entity was formed in July 2015 and appears to be a single-purpose vehicle for the property.

What is the SARE deadline?

The debtor has approximately 90 days from the petition date to file a plan with a reasonable possibility of confirmation or begin making interest payments to the secured lender. The deadline falls around June 28, 2026.

Will the property be sold?

No sale motion or plan has been filed. The SARE classification gives the debtor limited time to negotiate a workout, refinance, or find replacement capital before the secured lender can seek relief from the automatic stay.

For more coverage of real estate restructuring cases, explore additional case coverage on ElevenFlo.