Hanley Investment Group Real Estate Advisors successfully facilitated the sale of five retail outparcels at Citrus Landing in Riverside. The newly remodeled shopping center is 100% occupied and spans 124,904 square feet. The total sale price for the five parcels was $20,775,000.
EVP Kevin Fryman and President Ed Hanley represented the seller, a private investor from San Diego. CBRE’s SVP Art Flores represented the buyer, a private investor from Los Angeles.
Fryman stated that they were able to secure an all-cash buyer through their strong broker relationship for this off-market transaction.
The retail pads are located at 6061-6221 Van Buren Blvd. and 7280 Arlington Ave., housing popular tenants such as Chick-fil-A, Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union,and a multi-tenant building featuring Panda Express,Café Bottega,and Pacific Dental.They are also shadowed by major retailers like Stater Bros.Markets,Ross Dress For Less,AutoZone,and KFC with a combined occupancy of over 98K square feet.
