Marcus & Millichap closes Moreno Valley deal

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Marcus & Millichap brokered the sale of the 342,032-square-foot Moreno Valley Plaza in Moreno Valley, Calif.  The Vons Grocery-anchored shopping center commanded a $29 million sales price. Passco Realty sold the property to an undisclosed buyer. Moreno Valley Plaza is located on 32.4 acres at 23583 Sunnymead Blvd. The center was originally constructed between 1983 and 1989. In addition to Vons Supermarkets, the center hosts approximately 75 tenants, including Big 5 Sporting Goods, Big Lots!, Factory 2-U, Jo-Ann Fabrics, Leslie's Pool Supply, Office Depot and Wherehouse. Occupancy was 93 percent at the time of sale. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....