RIVERSIDE, CA-Vestar Development Co., a real estate company based in Phoenix, has added a Riverside shopping center to its retail portfolio. The company, along with its partner UBS Global Asset Management, recently bought Riverside Plaza, a 475,000-square-foot open-air shopping center, for $84.8 million.
The retail center is nearly 92% leased and is anchored by CVS Pharmacy, Regal Cinemas Stadium 16, Trader Joe's and Vons Supermarket. It was sold by an affiliate fund of Chicago-based Westminster Funds. For the full story, go to Phoenix Business Journal .
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