IE Business Daily Business news for the Inland Empire.
A three-tenant retail building in Riverside has been sold for $5.8 million.
The 6,300-square-foot building, which was built four years ago, sits on a one-acre parcel at 22430 Van Buren Blvd. next to Interstate 215, according to Hanley Investment Group in Corona Del Mar.
Tenants include Chipotle Mexican Grill with a drive-thru and MA Dental. The third tenant, BHC Chicken, is expected to open this month.
Hanley represented the seller and developer, Greens Development Inc. in Irvine. The buyer was a Los Angeles investor who did not want to be identified.
The building is a part of Veteran’s Plaza, a community shopping center and hotel complex developed by Greens Development. Tenants include In-N-Out, a four-tenant Starbucks-anchored multi-tenant retail pad building, Hampton Inn + Home2 Suites, and a Circle K convenience store.
More than 232,000 residents, with an average household income of more than $91,000, live within a five-mile radius of the property, which is near March Air Reserve Base, according to Hanley Investment Group.
