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Riverside shopping center gets refinancing

Riverside shopping center gets refinancing

The developer of a neighborhood shopping center in Riverside has obtained $37 million in financing for the 1980s-era facility.

The 16-building Mission Grove Plaza is anchored by State Bros. and is scheduled to add a 32,000-square-foot EOS Fitness to its tenant mix in the first quarter of 2024, according to Regional Properties Inc. Riverside.

Current tenants include Galaxy Theaters, Bank of America, UPS, IHOP, and Romano’s Chicago Pizzeria.

Regional Properties developed Mission Grove Plaza in 1986. It sits on 32.3 acres at the southeast corner of Alessandro Boulevard and Trautwein Road.

Regional Properties secured the five-year, fixed-rate lease with the help of CBRE.

The shopping center has undergone several renovations since it opened, most recently in 2000, according to Regional Properties.

 

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