NEWPORT CROSSING RETAIL CENTER SELLS FOR $9.95 MILLION
MENIFEE, CALIF. — Los Angeles-based Arya Investments LLC has purchased Newport Crossing, a 25,049-square-foot retail center located at 26015-26035 Newport Rd. in Menifee. The property is tenanted by Jack in the Box Inc.’s new full-service Quick Stuff convenience store concept, which includes a Shell Gas fuel station and a full-size Jack in the Box restaurant with drive-thru; Great Clips; Hollywood Video; IHOP; Submarina; UPS Store and Verizon Wireless. Santa Monica, Calif.-based Newport Murrieta Partners LLC sold the property for $9.95 million or $397 per square foot. Mariko Beaver of Venture Real Estate Group and Kandice Thayer of First Team Real Estate represented the buyer; Edward Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.