IE Business Daily Business news for the Inland Empire.
A Riverside shopping center anchored by a Smart & Final has been sold.
The property, at 5130-5290 Arlington Ave., attracted multiple offers and ultimately sold for $26.2 million, according to CBRE.
The buyer was Tarski Group LLC, a Long Beach investment group. Heritage Plaza LLC and UAP-Heritage LLC, both developers based in Newport Beach, were the sellers.
CBRE represented both parties in the transaction.
The property, which covers nearly 120,000 square feet, is 75 percent occupied. Other tenants include Starbucks, Del Taco, UPS, Subway, Compass Bank, Yum-Yum Donuts and Verizon Wireless.
Typically, more than 28,300 vehicles pass by the shopping center every day, according to the statement.
