IE Business Daily Business news for the Inland Empire.
A retail building in Riverside anchored by a Chipotle drive-thru has been sold for $5.8 million.
The three-tenant project at 22430 Van Buren Blvd. next to Interstate 215 is also home to a dentist’s office, and a BHC Chicken is expected to open there in October, according to Hanley Investment Group Real Estate Advisors.
The Chipotle restaurant, which covers 6,300 square feet, opened in 2020.
Hanley Investment represented the seller, Greens Development Inc. in Irvine, which also built the project. The Altemus Company in Los Angeles represented the buyer, a Los Angeles-based investor whose name was not released.
The development near March Air Reserve Base is part of Veteran’s Plaza, a community shopping center and hotel complex. It includes an In-N-Out Burger, a four-tenant Starbucks-anchored multi-tenant retail pad building, Hampton Inn + Home2 Suites, and a Circle K convenience store with a 76-gas station.
Hanley Investment Group is based in Corona del Mar. It is a real estate brokerage and advisory services company that has completed more than $11 billion in transactions, according to a statement.
