Canyon Crossings Sells for $61.3 Million in California

by Nate Hunter

Riverside, Calif. — Dunhill Partners acquired the property from Boston-based Long Wharf Real Estate Partners.

Riverside, Calif. — Dunhill Partners has purchased Canyon Crossings, a 300,000-square-foot power center in Riverside, from Long Wharf Real Estate Partners LLC for nearly $61.3 million. Dunhill Partners acquired the property free and clear of existing debt.

Built in 2008, the center is located adjacent to Interstate 215 and Highway 60. Canyon Crossings is 92.5 percent leased to tenants including Toys”R”Us/Babies”R”Us, Mor Furniture for Less, Staples and Party City. The property is part of a larger retail project that totals 700,000 square feet and is shadow-anchored by Walmart Supercenter.

Ryan Gallagher and CJ Osbrink with HFF represented the seller in the transaction. Long Wharf Real Estate Partners is a Boston-based private equity real estate investment manager. Founded in 1984, Dunhill Partners is an investment firm that currently owns and manages more than 5 million square feet of retail properties.

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