MORENO VALLEY, CALIF. — Newmark has arranged the sale of Lakeshore Village Marketplace, a neighborhood shopping center located in Moreno Valley. A Southern California-based private party acquired the retail property from an entity doing business as Lakeshore Plaza Holdings LLC for $8.3 million.
Situated at 23575 Sunnymead Parkway, Lakeshore Village Marketplace features 80,000 square feet of retail space. The transaction also includes a 2.3-acre land parcel adjacent to the retail center.
Lakeshore Village Marketplace has maintained a steady 87 percent occupancy rate to tenants including Armando’s Mexican Restaurant, Espresso & Cupcake Café, S Bar & Grill, Oishii Sushi, Del Taco and Jack in the Box.
Mario Alvarez Jr. and Pablo Rodriguez of Newmark represented the seller in the deal.