Inland Empire Retail Center Sells for $9.9 Million in Hemet, CA

Hemet West Shopping Center, Hemet, CA

HEMET, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Hemet West Shopping Center, a 61,312-square foot Stater Bros.-anchored center in Hemet, a city in Riverside County, Calif.  The sales price of $9,900,000 equates to $161 per square foot.

            Alan Krueger, a senior vice president investments, and Charles Shillington, a first vice president investments, both in the Ontario, Calif. office of Marcus & Millichap, represented the seller, GC Properties. The buyer is a private investor in a 1031 exchange.

Alan Krueger

  “Last year’s surge in multi-tenant asset transactions in the Inland Empire continues as investors seek out stabilized properties in order to reach their investment goals,” says Krueger.

            “At the time of the sale, Hemet West Shopping Center was 96 percent leased to a diverse mix of tenants,” adds Shillington.

Built in 1975, the property is located at the signalized intersection of Florida Avenue and Sanderson Avenue —California state routes 74 and 79—and enjoys an excellent window on both streets.

            Hemet West Shopping Center’s major tenants include Coco’s, Del Taco, Steer ‘n Stein, a United States post office, Advance America and Banner Mattress. All components and pads of the center were included in the sale.

For a complete copy of the company’s news release, please contact:

Ben Johnson,

Marketing Director

(925) 953-1736