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Hanley Arranges Off-Market Sale of Riverside Retail Pads
Hanley Investment Group Real Estate Advisors arranged the sale of five retail outparcels totaling 25,916 square feet at Citrus Landing, a newly remodeled, 100%-occupied, 124,904-square-foot grocery-anchored neighborhood shopping center in Riverside. The sale price was $20,775,000.
EVP Kevin Fryman and president Ed Hanley represented the seller, a private investor from San Diego. SVPs Arthur R. Flores, Jay Gomez and James Kaye with CBRE in Newport Beach represented the buyer, a private investor from Los Angeles.
“We procured an all-cash private 1031 buyer, leveraging a long-term broker relationship, for this off-market transaction,” said Fryman.
Located at 6061-6221 Van Buren Blvd. and 7280 Arlington Ave. in Riverside, the five retail pads house Chick-fil-A, Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union and a multi-tenant pad building featuring Panda Express, Café Bottega and Pacific Dental. They’re shadow-anchored by Stater Bros. Markets, Ross Dress For Less, AutoZone and KFC, which collectively occupy a total of 98,988 square feet.




