REBusinessOnline

Hanley Investment Negotiates $3.8M Sale of Four-Tenant Retail Building in Inland Empire

29261-Central-Ave-Lake-Elsinore-CA

Navy Federal Credit Union, iBrows Threading Salon, Submarina and Juice It Up! occupy the 7,203-square-foot retail pad building at 29261 Central Ave. in Lake Elsinore, Calif.

LAKE ELSINORE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant retail building within Lake Elsinore Marketplace, a shopping center in Lake Elsinore. Irvine-based Pacific Castle sold the asset to a Torrance-based private investor for $3.8 million.

Built in 2006 at 29261 Central Ave., the 7,203-square-foot pad building is fully occupied. Tenants include Navy Federal Credit Union, iBrows Threading Salon, Submarina and Juice It Up!. Anchors at the larger, 144,034-square-foot Lake Elsinore Marketplace include Costco, Lowe’s Home Improvement Warehouse, Grocery Outlet, PetSmart and Dollar Tree.

Kevin Fryman and Bill Asher of Hanley represented the seller in the deal.

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