News:
Brokerage
Posted: December 19, 2017
Outside the Region: ShopOne Centers REIT acquires McKinley Crossroads: 202,134 s/f retail
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.
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
