Wrightwood Capital has sold The Shops at Sycamore Creek, located at 11762 - 11882 De Palma Road in Corona, CA, to Retail Opportunity Investments Corp. for $17.25 million, more than $232 per square foot.
The single-story, 74,918-square-foot shopping center was built in 2008 on 9.4 acres in the South Riverside submarket off Interstate 15. The center is anchored by Vons, and was 78 percent leased at time of sale.
Todd Goodman and Phil Voorhees with CB Richard Ellis represented the seller. The buyer, a NY-based REIT, is seeking to expand its portfolio of shopping centers.
Please see CoStar COMPS #1984359 for more information on this transaction.