Alan Krueger of the Ontario office of Marcus & Millichap represented the seller, with Drew Wetherholt and Jamie Harrison, also of the M&M Ontario office, representing the buyer. The purchase was part of a 1031 exchange for VNF.
The retail center was constructed in 1991 and occupies what the M&M brokers describe as a prime location surrounded by a rapidly growing population base in Victorville, a city of approximately 70,000 population. The center is adjacent to and visible from the I-15 Freeway. Its main tenants, which generate 86% of the property's income, include Staples, Circuit City, Michael's, Red Robin, Pier 1 Imports, Blimpie's Sub & Salads and Cinemark Cinemas USA.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
