Hanley Investment Group Sells Shopping Center in Riverside County, CA for $9,950,000, $397 psf (2009-03-09)
Hanley Investment Group Real represented the seller in the sale of Newport Crossing, a 25,049 SF shopping center in Riverside County in Menifee, CA. The purchase price was $9,950,000, representing $397 per square foot. Located at Newport Rd. and Murrieta Rd., the 4-acre property is anchored by Jack in the Box’s new Quick Stuff convenience store concept, which includes a Shell Gas fuel station and full-size Jack in the Box restaurant with drive-thru. Other tenants in the center include Great Clips, Hollywood Video, IHOP, Submarina, UPS Store and Verizon Wireless. The property was built in 2006, and was 87 percent occupied at the time of sale.
