IE Business Daily Business news for the Inland Empire.
A grocery-anchored shopping center In Temecula has been sold for $27.7 million.
RA Centers in Newport Beach bought Meadows Village Center, 31963 Rancho California Road, from affiliates of Fortress Investment Group LLC, an investment firm based in Los Angeles, according to a statement.
Built-in 2006, the neighborhood shopping center sits on eight acres and is 96 percent leased. Tenants include Barons Market, CVS Pharmacy, Starbucks, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, UPS Store, and Pacific Dental.
Barons Market and CVS Pharmacy were not part of the sale.
CBRE’s National Retail Partners-West represented Fortress Investment Group, according to the statement.
