Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in the deal.
Merlone Geier Partners Acquires Value-Add Shopping Center in Inland Empire for $39.4 Million