Girges Gad Of Pacific Realty & Finance Represents Buyer In $3.6M Riverside Retail Sale

The transaction involved the sale of a retail asset located at 3948-3964 University Avenue in the Riverside market. The property comprised a fully leased strip shopping center with a total square footage of 7,250. The sale price was recorded at $3,600,000, translating to approximately $497 per square foot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,600,000
• Sale Date: 08/01/2024
• Address: 3948-3964 University Avenue
• Market: Riverside
• Square Footage: 7,250
• Price Per Square Foot: $497
• Buyer's Representative: Girges Gad - Pacific Realty & Finance
• Seller's Representative: Greg Bedell - Progressive Real Estate Partners

Greg Bedell represented the seller, a Los Angeles-based entity, while Girges Gad represented the buyer. Progressie Real Estate Partners facilitated the transaction, highlighting their role in brokering the deal for the fully leased retail property.