IE Business Daily Business news for the Inland Empire.
Ramona Plaza, a 102,546-square-foot retail center in Hemet, has been sold.
The project at 1300-1480 East Florida Avenue, sold for $13.9 million, according to a statement released by SRS Real Estate Partners’ National Net Lease Group, which helped negotiate the sale.
SRS represented the seller, a Southern California-based investor whose name was not released. The buyer, a private investor based in California, was represented by The Visintainer Investment Group in Fresno.
Built in 1974, Ramona Plaza sits on 6.4 acres and was 88 percent occupied when the transaction was completed. Its anchor tenants include Grocery Outlet, Planet Fitness and Dollar Tree, all of which recently signed lease extensions. Aaron’s, Leslie’s Poolmart, Subway, and Little Caesars Pizza also have stores there.
Dallas-based SRS Real Estate Partners is the one of largest real estate companies in North America that deals exclusively in retail projects, according to the statement.
What are they going to build there? I hope it’s gets cleaned up, H