Located in Downtown Riverside, the 95,000-sf complex is anchoredby Food4Less, Hollywood Video and Papa John's Pizza. Passcopurchased the property in 1998 for $8.1 million, along withinvestors who purchased their interest in Chicago Plaza to completea 1031 exchange.

The company, which specializes in converting under-performingreal estate assets, added significant improvements to the site. A5,200-sf Hollywood Video retail store was built, as well as a2,500-sf Jack in the Box restaurant.

Passco also leased an additional 23,000-sf of shop space andupgraded the parking lot. The center's occupancy level jumped to98% and the annual return to investors was at 14% during the30-month holding period.

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