Hanley Investment Group Brokers Sale of Five Retail Outparcels at Citrus Landing in Riverside
Hanley Investment Group brokered the sale of five retail outparcels at Citrus Landing, a fully leased, grocery-anchored shopping center in Riverside. The deal involved a swift 16-day escrow and a mix of national and regional tenants.
Hanley Investment Group Brokers Sale of Five Retail Outparcels at Citrus Landing in Riverside
A Landmark Transaction in the Riverside Retail Market
Hanley Investment Group Real Estate Advisors recently brokered the acquisition of five high-profile retail outparcels from Paragon Commercial Group at Citrus Landing, a fully leased, 124,904-square-foot, grocery-anchored neighborhood shopping center in Riverside, California.
This transaction highlights the strong demand for retail investment properties, particularly pad sites with national and regional tenants, which continue to attract private investors looking for stable returns.
Key Details of the Citrus Landing Retail Investment Transaction
Experienced Representation on Both Sides
The buyers, private investors from San Diego and Newport Beach, were represented by Hanley Investment Group’s EVP Kevin Fryman and President Ed Hanley. Paragon Commercial Group, the seller, was represented by REZA Investment Group Inc. of Irvine.
Swift and Strategic 1031 Exchange
According to Kevin Fryman, the transaction was strategically structured to meet the 1031 exchange objectives of the buyers.
“Our clients had previously sold industrial land, and we identified this retail investment opportunity to fulfill their 1031 exchange objectives. We negotiated a 16-day escrow, including a six-day contingency period, providing Paragon with surety of closing,” Fryman explained.
This quick closing demonstrates the efficiency of Hanley Investment Group in securing investment opportunities that align with client needs, even within tight timeframes.
Prime Retail Location with Strong Tenant Mix
The five exterior pad and outparcel buildings acquired in the transaction encompass 25,916 square feet on 5.46 acres, with a high-quality tenant mix that includes:
- Chick-fil-A
- Carl’s Jr.
- Quick Quack Car Wash
- Arrowhead Credit Union
- Multi-tenant pad building with:
- Panda Express
- Café Bottega
- Pacific Dental
These national and regional tenants provide strong rental income stability, making this acquisition an attractive long-term investment.
The Significance of Grocery-Anchored Retail Investments
Grocery-anchored shopping centers like Citrus Landing remain among the most resilient retail investment opportunities, especially in today’s evolving commercial real estate landscape.
Why Grocery-Anchored Retail is a Smart Investment
- Steady Foot Traffic – Grocery stores draw consistent customer visits, benefiting adjacent retailers.
- Diverse Tenant Mix – The mix of quick-service restaurants, financial institutions, and service-based tenants ensures stable cash flow.
- Essential Services Demand – Businesses like dental offices, banks, and car washes offer services that remain in demand regardless of economic cycles.
This investment reinforces Hanley Investment Group’s expertise in identifying high-value retail assets that align with market trends and investor goals.
The Growing Demand for 1031 Exchange Retail Properties
As demand for 1031 exchange properties grows, transactions like this at Citrus Landing highlight key trends in retail investment:
- Investors are shifting from industrial to retail to diversify their portfolios.
- Well-located, fully leased properties are in high demand for tax-deferral strategies.
- Speed and certainty of closing are critical in competitive transactions.
Hanley Investment Group’s ability to execute a 16-day escrow with a six-day contingency period underscores their proficiency in navigating complex retail deals.
Hanley Investment Group’s Track Record in Retail Real Estate
Hanley Investment Group is a nationally recognized leader in retail investment brokerage, specializing in:
- Single-tenant net lease (STNL) investments
- Multi-tenant retail centers
- Grocery-anchored properties
- 1031 exchange transactions
With decades of experience and a proven track record of successful closings, the firm continues to be a trusted partner for investors seeking high-quality retail properties.
Final Thoughts – A Successful Retail Investment Deal in Riverside
The successful closing of the five retail outparcels at Citrus Landing reflects Hanley Investment Group’s expertise in retail investment sales and their commitment to delivering value to their clients.
This transaction reinforces the strength of grocery-anchored retail and the continued demand for well-located investment properties with strong tenants.
For more information on retail investment opportunities, visit:
Hanley Investment Group