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California  + Inland Empire  + Retail  | 

Hanley Arranges Deal for Riverside Outparcels

Hanley Investment Group Real Estate Advisors brokered the acquisition of five retail outparcels from Paragon Commercial Group at Citrus Landing, a newly remodeled, 100%-occupied, 124,904-square-foot grocery-anchored neighborhood shopping center located in Riverside. 

EVP Kevin Fryman and president Ed Hanley represented the 1031 exchange buyers, private investors from San Diego and Newport Beach. Paragon Commercial Group was represented by REZA Investment Group Inc. of Irvine.  

Fryman said, “Our clients had previously sold industrial land and we identified this retail investment opportunity to fulfill their 1031 exchange objectives. We negotiated a 16-day escrow, including a six-day contingency period, providing Paragon with surety of closing.” 

The five exterior pad and outparcel buildings encompass 25,916 square feet on 5.46 acres. They house national and regional tenants, including 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. 

Meet CRE experts like Red Oak Capital Holdings, CEO, Gary Bechtel by joining us in person at Connect Retail West on November 16 at the Luxe Sunset Blvd Hotel 

Read More News Stories About: Red Oak Capital Holdings
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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