Corona, CA ShopOne Centers REIT Inc. has acquired McKinley Crossroads, a 13.89-acre site located at 275 Teller St. Built in 1989 and renovated in 2000, McKinley Crossroads is a 202,134 s/f single story community retail center.
The three-building property is composed of both local and national tenants, which include anchors 24-Hour Fitness and Simply Fresh Market. This acquisition marks ShopOne’s entry into the California market.
“We are pleased to add McKinley Crossroads to ShopOne’s new and growing portfolio,” said Michael Carroll, CEO, ShopOne Centers REIT, Inc. “The property is an income-producing, retail center that offers a tremendous growth opportunity. We view this as a strategic acquisition and look forward to redeveloping and repositioning the center with best-in-class retailers looking to capitalize on the property’s unparalleled visibility to Riverside Freeway. In addition, we will be investing capital to improve the curb appeal of the property with a new parking lot, energy efficient lighting, enhanced signage and façade upgrades.”
The property is parallel to Riverside Freeway (State Rte. 91) and is near a four-way highway interchange.