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December 16, 2018
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Inland Empire Grocery-Anchored Retail Center Trades


Perris Plaza, a 150.1k sf, grocery-anchored dominant shopping center in the Inland Empire city of Perris, was acquired by Nuevo Perris LLC, which is a joint venture among Wood Investments, a Laguna Beach-based real estate investment and development company; Joel Farkas, a real estate development company based in Colorado; and SandTree Holdings, an El Segundo-based private real estate investment firm.The asset was sold by Coudures Family, LP.

The 97%-leased Perris Plaza is the dominant center in the region and features a mix of national and regional retailers, including Food 4 Less, Regency Theatres, Burger King, IHOP, Del Taco and Starbucks. The sale includes two entitled land pads that would allow the development of additional retail space, and the buyer plans to expand the shopping center to almost 300k sf with the addition of promotional retailers and restaurants through leasing that has already commenced.

Situated on 38.24 acres at 1688 North Perris Blvd, Perris Plaza is located on one of Perris’ major thoroughfares and adjacent to Interstate 215, which provides daily traffic counts of more than 161,500 vehicles per day.

Gleb Lvovich and Bryan Ley with HFF represented the seller in the deal. The price was not disclosed.

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