HFF announces sale of 150,148-SF grocery-anchored Inland Empire shopping center

Perris Plaza Shopping Center, Perris, CA     Photo by Patrick Tang of Take Flyt Imaging

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Perris Plaza, a 150,148-square-foot, grocery-anchored dominant shopping center in the Inland Empire community of Perris, California.

Gleb Lvovich

 The HFF team marketed the property on behalf of the seller, Coudures Family, LP.  Nuevo Perris, LLC, which is a joint venture among Wood Investments, a Laguna Beach-based real estate investment and development company; Joel Farkas, a real estate development company based in Colorado; and SandTree Holdings, an El Segundo-based private real estate investment firm, purchased the asset.

 The 97.6-percent-leased Perris Plaza is the dominant center in the region and features a mix of national and regional retailers, including Food 4 Less, Regency Theatres, Burger King, IHOP, Del Taco and Starbucks.

  The sale includes two entitled land pads that would allow the development of additional retail space, and the buyer plans to expand the shopping center to almost 300,000 square feet with the addition of promotional retailers and restaurants through leasing that has already commenced. 

Situated on 38.24 acres at 1688 North Perris Boulevard, Perris Plaza is located on one of Perris’ major thoroughfares and adjacent to Interstate 215, which provides daily traffic counts of more than 161,500 vehicles per day.

 The HFF retail investment advisory team representing the seller included Gleb Lvovich and Bryan Ley.

 “Perris Plaza generated solid interest due to its strong-performing grocery anchor, development upside and position within the growing Inland Empire region in Southern California,” Lvovich said.

 “The sale of Perris Plaza represents our team’s experience in locating new capital sources to acquire complex retail projects along the West Coast,” Ley added.

For more information on this transaction, please contact:

Kristen Murphy

Director, Public Relations

One Post Office Square Suite 3500

Boston, MA

 02109

T: 617-848-1572

 |  M: 617-543-4873

krmurphy@hfflp.com

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 https://www.woodinvestments.com.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.