FARIS LEE BROKERS $6.75 MILLION RETAIL SALE IN THE INLAND EMPIRE
RIVERSIDE, CALIF. — Faris Lee Investments has completed the $6.75 million sale of Magnolia Village Plaza, a 38,060-square-foot retail center located at 10901 – 10995 Magnolia Ave. in Riverside. Built in 1988 and renovated in 2007, Magnolia Village Plaza features a freestanding Taco Bell with drive-thru, two retail pads and in-line shops anchored by Kaiser Permanente. The property was 87 percent occupied at the close of escrow. Faris Lee Investments’ Nick Coo represented the private-investor seller, B U Management, in the transaction, and Reza Kassrian of Pars Global represented the buyer, Newell Owenby Trust.