Riverside Entertainment Center Trades Hands
By
Tony Seruga
CBRE-controlled NRIG-West successfully completed the marketing process for University Village.
University Village
Riverside, Calif.– University Village is the latest
commercial real estate deal completed in the Inland Empire by
CBRE-controlled National Retail Investment Group – West. The theater-anchored entertainment center was acquired by a China-based private investor from a partnership consisting of an L.A.-based venture. The $43.9 million transaction was arranged by a CBRE team that included Executive Vice President Philip D. Voorhees, Todd Goodman, Jimmy Slusher, Megan Wood, Matt Burson, Brad Rable, and Kirk Brummer.
Located at 1201 University Avenue, University Village offers a total of 180,681-square-feet of space. With 1,000 linear feet of frontage along the I-215, the entertainment center occupies a 11.95-acre lot. The area is also home to the California State University at Riverside, a major intellectual hub for
Inland Empire. The multi-level facility offers a 897-stall parking structure that was also part of the transaction, which according to the marketing team will provide “tremendous flexibility in executing future leasing and repositioning strategies at University Village.”…
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