LOS ANGELES, CA – HFF announced that it has been named to market for sale Riverside Plaza (top left photo), a 475,211-square-foot dual-grocery/drug and entertainment-anchored center in Riverside, California.
HFF is marketing the property on behalf of the seller, The Westminster Funds. The property is a core-plus opportunity and is listed for sale without an asking price and will be sold free and clear of debt.
Riverside Plaza is situated on nearly 33 acres at 3545 Central Avenue adjacent to State Highway 91 in Riverside. The property is a landmark in the region and was renovated in 2004 and is approximately 93 percent leased to tenants including Von’s (not included in the collateral), Trader Joes, CVS Pharmacy, Regal Cinemas, Stadium 16, Forever 21, El Torito California Pizza Kitchen, Panera Bread and many more national tenants.
The shopping center offers investors a large upside opportunity in below market leases and future development opportunity, which compliments the already existing strong center.
The HFF investment sales team representing the seller is led by managing director Bryan Ley, senior managing director Ryan Gallagher (middle right photo) and director John Crump (lower left photo).
The Westminster Funds are diversified real estate investment partnerships for private investors and their foundations.
Contacts:
BRYAN LEY RYAN GALLAGHER
CA Lic. #01458927 Ca Lic. #01269918
HFF Managing Director HFF Senior Managing Director
(310) 407-2100 (949) 253-8800
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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