RIVERSIDE, CALIF. — Hanley Investment Group has arranged the sale of a three-tenant retail pad building located at 22430 Van Buren Blvd. in the Inland Empire city of Riverside. A Los Angeles-based 1031 exchange investor acquired the asset from Irvine-based Greens Development Inc. for $5.8 million.
Completed in 2020, the 6,300-square-foot property is occupied by Chipotle Mexican Grill, MA Dental and BHC Chicken, which is slated to open in October.
The pad building is part of Veteran’s Plaza, a community shopping center and hotel complex developed by Greens Development. Tenants at the shopping center include In-N-Out Burger, Starbucks Coffee, Hampton Inn + Home2 Suites and Circle K with a 76 gas station.
Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, while Justin Altemus of The Altemus Co. represented the buyer in the deal.