Sierra Vista Plaza shopping center, Murrieta, CA
MURRIETA, CA—REIT Phillips Edison & Co. of Cincinnati has added the 80,259-square-foot Sierra Vista Plaza shopping center here to its portfolio.
The shopping center is anchored by Stater Bros. and CVS Pharmacy. Other tenants at the property include Chuck E. Cheese, Valley Veterinary Clinic, The UPS Store, Pizza Huge and Jack in the Box.
Brokerage firm HFF represented the seller in the transaction. The HFF investment advisory team was led by managing director Bryan Ley, managing director Gleb Lvovich, director Justin Kundrak and associate Tony Ensbury. No financial terms of the transaction were released.
“The sale of Sierra Vista Plaza represented the continued strong demand from investors for value-add grocery-anchored centers in Southern California,” Ley says.
“The Inland Empire and communities like Murrieta continue to grow and provide great relative value in Southern California,” Lvovich adds.
Sierra Vista Plaza is located in south Riverside County about 40 miles from the San Diego metro coastal cities, 50 miles from Orange County and 80 miles from Los Angeles. The eight-acre property at 25030-25100 Hancock St. that is adjacent to Interstate 215 and visible to more than 95,000 cars per day.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
