Five retail buildings spanning 25,916 square feet recently sold for a combined $20.77 million in Riverside.
The properties are part of Citrus Landing, a remodeled shopping center at 6061-6221 Van Buren Blvd. and 7280 Arlington Ave.
Hanley Investment Group Real Estate Advisors represented the unidentified seller from San Diego. CBRE in Newport Beach represented the all-cash buyer from Los Angeles.
The five exterior pad and outparcel buildings sold sit on 5.46 acres. These freestanding pads include tenants Chick-fil-A, Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union and a multi-tenant pad with Panda Express, Café Bottega and Pacific Dental.
Kevin Fryman at Hanley said recent sales highlight a “continued demand for grocery-anchored and grocery shadow-anchored retail properties.”
Apartment portfolio in Fontana sells for $25 million
Another multi-property portfolio drew big bucks from investors, this time in Fontana.
A nine-property portfolio with eight apartment buildings and a small retail center sold for $25,486,000, according to Marcus & Millichap.
“We conducted over 50 property tours, generated more than 30 offers, negotiated nonrefundable and pass-through deposits for the seller, and closed with six different buyers,” said Douglas McCauley, senior managing director of investments at the brokerage’s Ontario office.
The apartments, near Historic Route 66/Foothill Boulevard, included 108 units and a 10,627-square-foot retail center with a mini mart, laundromat, restaurant and dessert shop.
Plumber franchise opens in Riverside
Z Plumberz, a full-service plumbing franchise, is open in Riverside.
The plumbing company, aimed at residential and commercial customers, is owned and operated by Gilbert Robles.
Robles has 45 years in the construction industry.
Z Plumberz is part of the Belfor Franchise Group. For more information, call 951-709-0215 or email riverside@zplumberz.com .
Perris distribution center complete
Construction on a 259,951-square-foot distribution center in Perris is complete.
The building owned by Rockefeller Group sits on 14 acres in the Patterson Commerce Center.
“After a slow start to 2024, the Inland Empire, and in particular the Inland Empire East, is starting to see an uptick in tenant demand for new industrial buildings…” said Brett W. Anderson, vice president for Rockefeller Group’s West Region. “We remain bullish on the Inland Empire overall and are starting to see this in real time with more demand from users looking to lease or purchase at Patterson Commerce Center.”
The project, on Patterson Avenue at Nance Street, is near the Ontario International Airport. The building was designed by HPA Architects, engineered by Huitt-Zollars, and the general contractor was RM Dalton.
Murrieta taps new city manager
Justin Clifton is getting promoted to city manager in Murrieta, replacing Kim Summers who is retiring in January.
Clifton, who joined the city earlier this year as assistant city manager, has a bachelor of arts degree in political science and philosophy from Fort Lewis College, and a master of arts degree from Colorado University in Denver in political science and public policy.
“Justin is dedicated to serving the public, professional, energetic, and has a keen focus on creating a positive environment for the employees to continue the work that has been started,” Summers wrote in a statement.
The outdoing city manager said her successor has plans for new city projects and programs.
“I am confident that his talents will inspire our City to grow while maintaining the highest standards of service that the Murrieta citizens deserve,” she said.
The business briefs are compiled and edited by Business Editor Samantha Gowen. Submit items to sgowen@scng.com. High-resolution images can also be submitted. Allow at least one week for publication. Items are edited for length and clarity.
