RIVERSIDE, CA-HFF has closed the sale of the Canyon Crossings, a retail power center of approximately 300,000-square-foot in Riverside.
HFF marketed the property on behalf of the seller, Long Wharf Real Estate Partners LLC. Dunhill Partners purchased the asset for $61.25 million free and clear of existing debt.
Canyon Crossings is located at 2550 Canyon Springs Parkway adjacent to Interstate 215 and Highway 60 in Riverside. Completed in 2008, the property is 92.5 % leased to tenants including Toys/Babies “R” Us, John's Incredible Pizza, Mor Furniture for Less, Staples, Howard's Appliances and Party City. The center is part of a larger retail project totaling approximately 700,000 square feet, which is shadow-anchored by Walmart Supercenter.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
