IE Business Daily Business news for the Inland Empire.
Five recently constructed retail buildings at Eastvale Marketplace, a grocery-anchored shopping center, have been sold.
All five structures are approximately 57,000 square feet each, with one home to a Smart & Final Extra, according to a statement released by Hanley Investment Real Estate Advisors, a division of Hanley Investment Group, in Corona Del Mar.
Two of the the remaining buildings have multiple tenants, and the last two are fast-food restaurants – El Polllo Loco and Miguel’s Jr. – both with drive-thrus.
Collectively, the structures sold for approximately $33 million. Eastvale Marketplace is at 13334-13394 Limonite Ave., about 1.5 miles from Interstate 15.
The buyers were four separate private investors, three of whom asked to be anonymous. The multi-tenant building was purchased by Gershman Properties in Los Angeles.
Hanley Investment represented Evergreen Devco Inc., the property’s owner. Evergreen Devco is a national developer of retail and multi-family projects, mostly in the western United States, according to the statement.
