Colony Capital Sells Commerce Square Business Park in Riverside, California for $14M
RIVERSIDE, CALIF. — Colony Capital has divested of Commerce Square Business Park, a four-building office portfolio located at 1550 Marlborough Ave. and 1737, 1777 and 1989 Atlanta Ave. in Riverside. An undisclosed buyer acquired the asset for just over $14 million.
At the time of sale, the 128,912-square-foot business park was 90 percent leased to 14 tenants ranging in size from 1,395 square feet to 23,000 square feet. Tenants include Level 3 Communications (Century Link), T-Mobile, Honeywell International and the State of California.
Kevin Shannon, Ken White, Sean Fulp, Scott Schumacher and Ryan Plummer of Newmark Knight Frank represented the seller. The buyer was self-represented in the transaction.