Joint venture buys Rite-Aid-anchored mall

A joint venture between Westcore Corona Plaza LLC and Longwing Real Estate Ventures LLC acquired a four-building retail center totaling 92,045 square feet in Corona, Calif.

The value of the transaction was approximately $11.9 million.

The seller was MRES America Fund 92-I.

The 8.8-acre property, Corona Main Street Plaza, is located at 300 – 470 North Main Street, just north of the 91 Freeway.

Corona Main Street Plaza was 100 percent occupied at the time of sale and is anchored by Rite-Aid. Other tenants include Citibank, The Learning Center and Alexander Arman Salon.

Grubb & Ellis represented Westcore Properties in the transaction, while Mitsui Real Estate Sales USA represented the seller.

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