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MORENO VALLEY, CA-The 244,784-sf Canyon Springs Plaza, anchored by Toys R Us and Sears, has sold for $15.5 million. A Beverly Hills-based investment group sold the property on the border of Moreno Valley and Riverside to a private investor for $63 per sf.

Other tenants at the 14-year-old asset include Homelife, Kinko’s, Banner Mattress, Eastwood Insurance, US Army, Salvation Army, Prudential Realty and United Airlines.

Marcus & Millichap Real Estate Investment Brokerage Co. senior director Alan Krueger and associate director Drew Wetherholt represented both sides of the sale. The duo, working out of Marcus & Millichap’s Ontario office, landed the exclusive listing on the property from the seller and Wetherholt found the buyer.

Meanwhile, Edward Hanley and Eric Wohl of Marcus & Millichap’s Newport Beach office are marketing the Oaktree Village Shopping Center in Mission Viejo for David Pick Investment Group. The asking price is $14.9 million, which represents a 7.4% capitalization rate and $185 per sf.

Anchored by Mission Ranch Market and 24 Hour Fitness, the center is 97% occupied. The tenant roster includes three restaurants, Kelly McCue’s, Pho Vu’ Japanese Food and Eddie Sushi, as well as Allstate Insurance, Max Muscle and State Farm Financial Services.

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