IE Business Daily Business news for the Inland Empire.
A Citibank branch office in Riverside has been sold.
Faris Lee Investments completed the sale of the building, a 7,508-square-foot structure at 3580 Tyler St. across from the Galleria at Tyler, according to a statement released Wednesday.
Shaun Riley, senior managing director with Faris Lee, represented the buyer, a family trust in Newport Beach whose name wasn’t released. Equity Investment Advisors represented the seller, CP Sunshine LLC, in Lafayette.
Cost of the building was $4.8 million. Citibank has nine years left on its property lease, according to the statement.
Faris Lee, an Irvine-based retail investment and sales firm, recommended the property to its client because it’s so close to the Galleria, the popular regional mall, and to a Target, according to the statement.
