NNN Lease Market NewsDiscount store Family Dollar has a 10-year lease on a location on Van Buren Boulevard in Riverside, according to a statement from the commercial real estate company that helped put the deal together.
Family Dollar will take up a 10,000-square-foot site at Van Buren Plaza, on Riverside's west side. They are leasing the store from Tustin-based Kensington Real Estate Group.
A Hesperia shopping center anchored by a Fresh & Easy market has been sold to an Irvine-based real estate investment trust for $13.5 million, according to a statement.
The 52,000-square-foot Topaz Marketplace, in the 14100 block of Main Street, is three years old and 100 percent occupied. Other tenants include DeVita Dialysis, Wood Grill Buffet and Metro PCS.
The price, $253 per square foot, is considered one of the healthiest of the year for retail properties with a price tag above $10 million, according to Faris Lee Investments, a commercial real estate firm that specializes in retail deals.