RIVERSIDE, CA-Hanley Investment Group Real Estate Advisors, one of the largest retail investment groups in the western United States, has negotiated the sale of more than 122,000 square feet of retail space with the sale of Michaels Plaza and Stater Bros. Plaza in Riverside, CA.
The transactions totaled more than $20 million.
Edward Hanley, William Asher and Kevin Fryman of Hanley Investment Group, represented the buyer and seller in the sale of Michaels Plaza, located at 10321-10357 Magnolia Avenue, in Riverside, Calif. The 62,834-square-foot community shopping center, situated on 4.79 acres, is leased to national and regional tenants Michaels, David's Bridal, Lamps Plus, AAA Gold Exchange, Armed Forces, GameStop and The Flame Broiler. The center was built in 1987 and was 97% occupied at the time of sale. The buyer was The Krausz Companies, Inc. of Irvine, CA. The seller was a private partnership based in Orange County.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
