IE Business Daily Business news for the Inland Empire.
A property in Riverside that is occupied by O’Reilly Auto Parts has sold.
Riverosity LLC in Los Angeles bought the property at 1691 University Ave. from Ximeno Associates in Newport Beach for $3.2 million, according to a statement by Faris Lee Investments.
The sale was announced Tuesday.
O’Reilly Auto Parts has occupied the building since 1995 and has 10 years left on its lease, according to Faris Lee, which represented Ximeno Associates in the negotiations.
The property is between University and Chicago avenues between downtown and Riverside and the University of California, Riverside. Nearby national retail tenants include Food 4 Less, Walgreens, Rite Aid and Dollar Tree, according to the statement.
