A private investor has acquired two retail shopping centers for $35.6 million in a 1031 exchange deal. The buyer traded out of an asset in Hollywood, and saw upside in the Inland Empire market, which has seen strong population growth in the last few years.

The two shopping centers include the 124,431-square-foot Menifee Town Center, located at 30121-30187 Antelope Rd. in Menifee, and the 33,416-square-foot Barn at Wildomar, located at 32395 Clinton Keith Road in Wildomar.

CBRE's Fred Aframian represented the buyer in the deal.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Inland Empire
Net Lease
Retail
Capital Markets