After it was recently redeveloped, a shopping center in Riverside has been placed up for sale. The 124,904 square foot property, also known as Citrus Landing, is listed by Reza Investment Group Inc. and guidance pricing is undisclosed.
The property is located at 7200 Arlington Ave. on more than 15 acres and is listed by Reza Investment Group’s Aaron Bettencourt and Ramez Barsoum on behalf of the owner. Public records show that the current owner of the site is Ccf Pcg Riverside Plaza LLC, an entity that is linked to CKE Restaurant Holdings.
Situated at the intersection of Van Buren Boulevard and Arlington Avenue, the property overall sees 75,900 vehicles per day.
The retail complex was developed between 1973 and 1984 and has been fully renovated in 2022 and 2023. It is also fully occupied with tenants including Stater Bros., AutoZone and Ross Dress for Less. The property also includes several freestanding pads, such as Chick-fil-A, Carl’s Jr., KFC, Quick Quack Car Wash and Arrowhead Credit Union. Another multi-tenant pad building features additional national tenants Panda Express and Pacific Dental. Overall, the retail center has a weighted average lease term of approximately 11.6 years.
The property’s anchor tenant, Stater Bros., operates 170 supermarkets and has approximately 18,000 employees with annual revenues of over $4 billion, according to the property listing. The retailer has approximately 166 locations and averages about 1.1 million annual visits.