IE Business Daily Business news for the Inland Empire.
A Riverside property occupied by a Raising Cane’s restaurant has been sold for $6.8 million.
The 1.3-acre parcel at 4100 Central Ave. was sold to a Southern California developer whose name was not released, according to SRS Real Estate Partners in Newport Beach.
The seller was a Washington developer who also wished to remain anonymous. SRS represented the seller in the negotiations.
The Raising Cane’s restaurant, which has a 15-year-ground lease attached to it, was built last year and covers 3,267 square feet.
“This asset secured competitive offers and sold for a strong price point,” said Patrick Luther, senior managing partners with SRS, in the statement. “Raising Cane’s is near Riverside Plaza, a 465,000-sf shopping center with a favorable mix of national retail tenants, creating an ideal customer crossover draw.”
