The property, known as Magnolia Place, is leased by tenants including Payless Shoe Source, Supercuts, Susie's Deals and Tuxedo Junction. It is located at 10171-10191 Magnolia Ave., across the street from Galleria at Tyler mall.

Both the buyer and the seller, a Los Angeles-based partnership were represented by Charles Shillington, Joe Cesta and Joe Berkson of the Ontario office of Marcus & Millichap Real Estate Investment Brokerage Co.

Riverside County's population and job growth have been steadily increasing in the past decade, creating a solid base for the region's retail sector. According to a report by Casden Real Estate Economics Forecast, "between 1990 and 2000, employment in Riverside County grew by 49.5%, the largest jump in employment in the region. Moreover, Riverside County experienced the fastest rate of population growth in the region over the same period, as 375,000 new residents moved into the county." As both employment and population rose steadily here, "Riverside County saw significant increases in median family income and per capita income," the report concludes.