(For more retail coverage, click GlobeSt.com/RETAIL.)
REDLANDS, CA-Hyrosen Properties of San Bernardino has acquiredthe 90,472-sf Orange Tree shopping center from Newport Beach-basedSCP Redlands LLC for $23 million, according to Sperry Van Ness. Theproperty is located near the 10 and 30 freeways at the southwestcorner of Alabama Street and Lugonia Avenue.
The Sperry Van Ness brokers who negotiated the deal report thatthe transaction represents one of the largest retail centers everpurchased by an Inland Empire-based investment group. The SperryVan Ness team of Brad Umansky and Bryan Ley from the company'sOntario office and Fouy Ly of Sperry Van Ness in Irvine representedthe buyer and the seller.
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