Greens Development Inc. Sells Retail Pad In Riverside For $5.8M With Hanley Investment Group

A retail pad located at 22430 Van Buren Boulevard in Riverside was sold for $5,800,000. The asset spans 6,300 square feet, resulting in a price per square foot of $921. This property is part of Veteran’s Plaza and is currently occupied by tenants including Chipotle, MA Dental, and upcoming BHC Chicken.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,800,000
• Square Footage: 6,300
• Price per Square Foot: $921
• Address: 22430 Van Buren Boulevard
• Market: Riverside
• Seller: Greens Development Inc.
• Buyer's Representative: Justin Altemus - The Altemus Company
• Seller's Representatives: CJ Kiehler & Eric Wohl - Hanley Investment Group

The transaction was brokered by Hanley Investment Group, facilitating the sale to a 1031 exchange investor. The property was completed in 2020, adding to its market appeal and tenant diversification.