Hanley Brown Group Represents Buyer & Seller in Sale of Street Front Retail Building for $1.2 Million in Riverside, CA

IRVINE, CA – Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers, announced today Jeremy S. McChesney and Eric L. Werner of Hanley Brown Group represented the buyer and seller in the sale of Five Points Plaza, a street front retail building in Riverside, California. The purchase price was $1.2 million.

Five Points Plaza is an 8,340-square-foot, 100 percent occupied multi-tenant retail building situated at the southwest corner of La Sierra Avenue and Pierce Street in the City of Riverside, one of the fastest growing areas in Southern California. The property is an out-parcel location to a Stater Bros. and Rite Aid anchored shopping center.

“At a 4.79 percent cap rate, the sale of this property represents a historically low cap rate in Riverside County,” says Werner. “This is a great opportunity for the buyer to add value to the property by increasing below market rents in a growing Inland Empire location,” adds Werner.

The seller was a private investor out of Riverside County, and the buyer was a Los Angeles based entity.


About Hanley Brown Group Real Estate Advisors

Hanley Brown Group Real Estate Advisors is one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers. Based in Irvine, California, Hanley Brown Group is led by long-time industry veterans Edward B. Hanley and Gregory S. Brown, both designated CCIMs. As specialists in the sale of retail properties, Hanley Brown Group has earned a lasting reputation for its successful track record, investment expertise, dedication and integrity. For more information, visit the Company’s website at www.hanleybrown.com or call (949) 585-7610.