Connect Media > California News > Inland Empire > Multi-Tenant Retail Building Trades at Costco-Anchored Center

August 4, 2020 Comments Off on Multi-Tenant Retail Building Trades at Costco-Anchored Center Views: 535 California News, Inland Empire

Multi-Tenant Retail Building Trades at Costco-Anchored Center

Order Reprints...

Hanley Investment Group Real Estate Advisors arranged the sale of a multi-tenant retail building at Lake Elsinore Marketplace, a 144,034-square-foot shopping center anchored by Costco, Lowe’s, Grocery Outlet, PetSmart and Dollar Tree. The sale price was $3,770,000.

Built in 2006 on 0.77 acres, the 7,203-square-foot pad building is located at 29261 Central Ave. in Lake Elsinore and is 100% leased to four internet-resistant tenants – Navy Federal Credit Union, iBrows Threading Salon, Submarina and Juice It Up!.

Hanley’s Kevin Fryman and Bill Asher represented the seller, Irvine-based Pacific Castle. The buyer was an unnamed private investor from Torrance.

“The timing of the transaction took place in the initial stages of COVID-19 being declared a pandemic,” said Fryman. “We were able to structure a successful closing to achieve the buyer’s 1031 exchange and satisfy the buyer’s lender’s borrowing guidelines, during one of the most challenging macro-economic environments we’ve experienced in over a decade.”

Connect With Pacific Castle

Connect With Hanley’s Fryman


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.