MCA Realty Acquires 117,191 SF Value-Add Retail Property in California for $16.5M
MORENO VALLEY, CALIF. — MCA Realty has purchased a portion of Stoneridge Towne Centre, a retail center located in Moreno Valley, for $16.5 million. Totaling 117,191 square feet, the acquisition includes four multi-tenant buildings and two retail boxes located at 27110, 27120, 27130, 27140, 27190 and 27220 Eucalyptus Ave., as well as four developable pads totaling 5.24 acres.
At the time of sale, the retail assets were 88 percent occupied, with Best Buy and West Elm currently occupying the two box spaces on short-term leases.
Phil Voorhees, Jimmy Slusher, James Tyrrell and John Read of CBRE represented the buyer and undisclosed seller in the transaction.