November 8, 2018 Comments (0) Views: 762 California News, Inland Empire

Value-add Retail Center in Murrieta Sold

Sierra Vista Plaza, an 80,259-square-foot, value-add retail center anchored by Stater Bros. (NAP) and CVS Pharmacy in Murrieta, CA, has traded hands. Cincinnati-based Phillips Edison & Company, Inc. purchased the asset for an undisclosed amount.

Strategically located on eight acres at 25030-25100 Hancock St. adjacent to Interstate 215, the center is home to national and regional tenants, including Chuck E. Cheese, Valley Veterinary Clinic, The UPS Store, Pizza Huge and Jack in the Box.

HFF’s investment advisory team was led by Bryan Ley, Gleb Lvovich, Justin Kundrak and Tony Ensbury.

“The sale of Sierra Vista Plaza represented the continued strong demand from investors for value-add grocery-anchored centers in Southern California,” Ley said.

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