Active

2851 Canyon Springs

Riverside CA, 92507

$5,300,000


$636.56 per sqft

Active

8,326 sqft

Commercial

Built in 2004

Listed by BRAD FREEMAN with FREEMAN & ASSOCIATES 877-300-4289

The property sits along a busy corridor of the Interstate 60 with a Huge Pylon dedicated to this 2,000,000 +/- Square Foot Regional Retail Power Center, located at the Freeway Interchange of the I60 and the I215. This is the prime exit on the I60 coming from the east, and you can also come to the center from the south by exiting off the I215. This offering consists of two nationally branded tenants, including Verizon & GameStop, and one regionally branded tenant AhiPoki, and also Pho Ha which has more than one location. All tenants are on NNN leases, and all renewed their options, except AhiPoki (they are taking over Subway Space in July 2024, because Subway has no more options). The building is also well-suited for future leasing that can produce increase in rents over time. Brokers and tenants call regularly unsolicited, wanting to know if any leases are expiring soon so they can takeover the space. The entire power center is very low turnover, as landlord has only ever lost one tenant when Payless filed bankruptcy. Shadow Anchored by Target, the subject is Pad Building C located at the drive entrance to Target, known to be one of the most visited shopping destinations in the region. All tenants are seasoned at this location, except for AhiPoki, but even then AhiPoki has clientele in the area, because they used to be located across Day Street in the Lowes shopping center.

EV24112982

MLS ID

June 4, 2024

Listed

June 7, 2024

Updated

Map

2851 Canyon Springs
Riverside CA, 92507

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

1.18 Acres


Lot Features

Level

Other Property Details

Area Name

252 - Riverside


Garage

No


View

No


County

Riverside


Water Source

Public


Pool

No


Buyer Agency Compensation

2%

Listing Contact: 877-300-4289 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 6/7/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 6/7/2024 at 2:11 AM UTC

 

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