{"id":1004140846,"date":"2016-04-01T06:59:26","date_gmt":"2016-04-01T14:59:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004140846"},"modified":"2022-12-05T08:40:35","modified_gmt":"2022-12-05T16:40:35","slug":"riverside-entertainment-center-trades-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/riverside-entertainment-center-trades-hands\/","title":{"rendered":"Riverside Entertainment Center Trades Hands"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Riverside, Calif.<\/strong>\u2013 University Village is the latest commercial real estate deal <\/a>completed in the Inland Empire by CBRE<\/a>-controlled National Retail Investment Group \u2013 West. The theater-anchored entertainment center was acquired by a China-based private investor from a partnership consisting of an L.A.-based venture. The $43.9 million transaction was arranged by a CBRE team that included Executive Vice President Philip D. Voorhees, Todd Goodman, Jimmy Slusher, Megan Wood, Matt Burson, Brad Rable, and Kirk Brummer.<\/p>\n

\"University<\/a>

University Village<\/p><\/div>\n

Located at 1201 University Avenue, University Village offers a total of 180,681-square-feet of space. With 1,000 linear feet of frontage along the I-215, the entertainment center occupies a 11.95-acre lot. The area is also home to the California State University at Riverside, a major intellectual hub\u00a0for Inland Empire<\/a>. The multi-level facility offers a 897-stall parking structure that was also part of the transaction, which according to the marketing team will provide \u201ctremendous flexibility in executing future leasing and repositioning strategies at University Village.\u201d<\/p>\n

In terms of marketing, Voorhees noted that roughly 627 offering memoranda were distributed during the process. The team\u2019s \u201cmanaged bid\u201d offer process sourced approximately a dozen offers for the purchase of the property. NRIG-West managed to arrange a transaction volume of around $940 million in 63 transactions, involving 88 properties that total roughly 16.8 million square feet of space.<\/p>\n","protected":false},"excerpt":{"rendered":"

CBRE-controlled NRIG-West successfully completed the marketing process for University Village. <\/p>\n","protected":false},"author":237,"featured_media":1004140853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21742,21749,15],"tags":[],"class_list":["post-1004140846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-latest","category-retail","category-west"],"acf":[],"yoast_head":"\nRiverside Entertainment Center Trades Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/riverside-entertainment-center-trades-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Riverside Entertainment Center Trades Hands\" \/>\n<meta property=\"og:description\" content=\"CBRE-controlled NRIG-West successfully completed the marketing process for University Village.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/riverside-entertainment-center-trades-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-01T14:59:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T16:40:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/University-Village.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Riverside Entertainment Center Trades Hands\",\"datePublished\":\"2016-04-01T14:59:26+00:00\",\"dateModified\":\"2022-12-05T16:40:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/\"},\"wordCount\":230,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/04\\\/University-Village.jpg\",\"articleSection\":[\"Deals\",\"Investment\",\"Los Angeles\",\"News\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/riverside-entertainment-center-trades-hands\\\/\",\"name\":\"Riverside Entertainment Center Trades Hands - 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