TIC investors snag SoCal shopping center

Property acquired via 1031 exchanges

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SCI Real Estate Investments, in conjunction with eight tenant-in-common investors, purchased the approximately 88,839-square-foot Country Village Shopping Center in Rancho Cucamonga, Calif. The value of the transaction was approximately $16.9 million. The buyers are facilitating the deal via 1031 exchanges. The property, which was 98 percent occupied at the time of sale, was built in 1974. The primary tenants include Stater Bros., Bank of America and Carl's Jr. SCI represented the buyers in this transaction, while Grubb & Ellis represented the seller, whose identity was not disclosed. West Los Angeles-based SCI is a real estate investment company. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....