A private investor has acquired two retail malls for $ 35.6 million in a 1031 swap deal. The buyer was trading an asset in Hollywood and saw an upward trend in the Inland Empire market, which has seen strong population growth in recent years.
The two malls include the 124,431-square-foot Menifee Town Center at 30121-30187 Antelope Rd. In Menifee and the 33,416-square-foot Barn in Wildomar, 32395 Clinton Keith Road, Wildomar.
CBRE’S Fred Aframian represented the buyer in the business.