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office building in riverside sells for $11.4 million

Office building sells for $11.4 million

A Las Vegas investment firm has sold an office building in Riverside.

Dornin Investment Group sold the property at 3550 Vine St., for $11.4 million to a private investor whose name was not released, according to a statement.

The three-story building covers a little more than 46,000 square feet. It was 90 percent leased when it sold.

Dornin Investment recently renovated the lobby, common areas and landscaping while building two speculative office suites. The building was part of a five-building portfolio in Riverside that Dornin Investment has sold off except for one structure, a 54,115 square-foot facility at 2280 Market St. in Riverside.

CBRE Orange County represented Dornin Investment in the negotiations. The transaction price is $247 per square foot

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