Private Investor Acquires Retail Property On Sunnymead Ranch Pkwy For $8.3M

The Lakeshore Village Marketplace is a neighborhood shopping center located in Moreno Valley, California. The retail property, including a 2.3-acre land parcel, was acquired by a Southern California-based private investor from Lakeshore Plaza Holdings LLC for a total of $8.3 million. The property features 80,000 square feet of retail space and is situated at 23575 Sunnymead Parkway. Tenants within the marketplace include Armando’s Mexican Restaurant, Espresso & Cupcake Café, S Bar & Grill, Oishii Sushi, Del Taco, and Jack in the Box.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,300,000.00
• Market: Norfolk
• Seller's Representative: Mario Alvarez Jr (Newmark), Pablo Rodriguez (Gridline Properties)
• Brokers: Mario Alvarez Jr (Newmark)
• Buyer: Private Investor

Mario Alvarez Jr of Newmark, along with Pablo Rodriguez, represented the seller in the transaction of Lakeshore Village Marketplace. The acquisition was facilitated by a private investor based in Southern California. The retail property maintains an 87 percent occupancy rate with a diverse range of tenants offering various services and dining options.