facebook

traded

+ Submit
Home

/

Deals

/

California

/

Retail

/

Lease

/

2640 Canyon Springs Parkway...

Progressive Real Estate Partners Leases 24,220 SF Retail Space To Boot Barn, Sephora, And Urbane Café At Canyon Springs Parkway In Riverside
LEASEDRetail

Progressive Real Estate Partners Leases 24,220 SF Retail Space To Boot Barn, Sephora, And Urbane Café At Canyon Springs Parkway In Riverside

2640 Canyon Springs Parkway Riverside, California 92507, USA

Building Size

24,220 SF

Asset Type

Retail

Closing

Jul 26, 2023

AI

The retail property located at 2640 Canyon Springs Pkwy in Riverside has recently been leased. The property spans an impressive 24,220 square feet in size and is situated in the bustling market of Riverside.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 2640 Canyon Springs Pkwy
  • Market: Riverside
  • Square Footage: 24,220

Progressive Real Estate Partners, represented by brokers Brad Umansky and Albert Lopez, successfully leased the property on behalf of TDA Investment Group. The retail space is now fully occupied and has attracted three notable tenants.

Boot Barn, a popular western wear retailer, will be occupying approximately 18,300 square feet of the retail space starting in the fall. Sephora, a well-known cosmetics brand, has recently opened its doors in a 4,320 square-foot area within the property. Additionally, Urbane Café, a trendy eatery, has also recently opened a 1,600 square-foot location at the retail center.

This successful leasing transaction has brought significant activity and energy to the Canyon Springs Marketplace, which is now operating at full capacity with a diverse mix of tenants.

Players

Albert Lopez

Progressive Real Estate Partners

Broker

$12.7M

vol

6 deals

Broker

Riverside Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93