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12/04/25
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A Central CA-based private investor paid $4.6 mil for a 9k sf ($511/sf), multi-tenant shop building in Riverside, as part of a 1031 exchange. Located at 19530 Van Buren Blvd, the building is part of Orangecrest Plaza, the only grocery-anchored center serving Riverside’s affluent Orangecrest community.
Built in 1996, the shop building is shadow anchored by a top performing Albertsons (ranked #15 out of 394 stores nationally per Placer.ai), Petco and several other nationally and regionally recognized tenants. The building is 90% occupied and home to seven food and service-oriented tenants all of which have been operating at the center for 20+ years demonstrating the long-term success and viability of this location. Tenants include Subway, H & R Block, a barber, pool supply and others.
Located on the area’s major east-west retail corridor, Orangecrest Plaza is ideally situated at the signalized intersection of Van Buren Blvd and Trautwein Rd. The site offers visibility to an average of over 67,900 cars per day and features exceptional street frontage as well as multiple entry and exit points.
Greg Bedell, CCIM and Trinnie Lee with Progressive Real Estate Partners represented the seller in the transaction. The buyer, who also owns other retail and residential assets, was represented by Vicky Casey and Josh Labogin from Casey & Associates.
According to Bedell, the transaction achieved a record low cap rate for a grocery-anchored shop building in the Inland Empire over the past 36 months, underscoring continued demand for high-quality assets in affluent communities.
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