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Northstar Sells Riverside Office Asset
Denver-based Northstar Commercial Partners divested a property at 1595 Spruce St. Riverside, CA for $6 million. The 67,076-square-foot office building on 6.07 acres was purchased in 2015 by a Northstar affiliated entity as one of 24 total assets in a portfolio acquisition totaling $224.3 million.
Northstar’s Brian Watson says, “Since acquiring this 24-asset portfolio in 13 states, our goal has been to find the best deals for each asset. We believe we have done that to date, and this property is no exception.”
The property is located in an opportunity zone. The sale was handled by CBRE’s Gary Stache, Doug Mack, Vindar Batoosingh, and Phil Woodford.
Northstar Commercial Partners Cary Wicker adds, “Our marketing plan entailed direct marketing to buyers focused in these areas, remaining consistent with our core philosophy.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


