IE Business Daily Business news for the Inland Empire.
A retail building at Orangecrest Plaza in Riverside has been sold for $4.6 million.
The structure at 19530 Van Buren Blvd. covers nearly 9,000 square feet and is part of the only grocery-anchored center that serves the Orangecrest community, according to Progressive Real Estate Partners in Rancho Cucamonga.
Progressive represented the seller, a private investor in Orange County. The buyer was also a private investor, located in Central California. Both parties wished to remain anonymous.
Built in 1996, the building at Van Buren Boulevard and Trautwein Road is near an Albertsons, Petco and several other nationally known tenants. The building is 90 percent occupied and his home to seven food and service-oriented tenants, all of which have been there for more than 20 years.
Orangecrest encompasses more than 2,400-acres of residential, commercial, educational and recreational uses and is one of the most sought-after places to live in Riverside. The average household income within a three-mile radius of the plaza is more than $173,000, according to Progressive.
