Moreno Valley, CA | Regional Mall | Closed in CRE Online Auction
- Jul 12, 2018
- Marketplace Closings
The Moreno Valley Mall in California was sold in an online auction for $60,250,000.
SALE PRICE: $60,250,000
RealINSIGHT Marketplace’s online auction sale of a 491,000+ SF portion of this 1.1MM SF super-regional mall in Moreno Valley, California utilized our two-tiered Custom Sale Event process, along with the engagement of a best-in-class mall-focused investment sales broker. While the Mall had been a consistent performer, achieving maximum pricing required an in-depth analysis and a clear and transparent marketing strategy to identify investors with the experience and vision to unlock the lease-up and repositioning opportunity in the offering. Marketplace’s Custom Sale Event process allowed investors to conduct a thorough due diligence review which drove significant interest from a wide investor pool consisting of local, regional, foreign, and mall-centric buyers. These efforts with a qualified and fully vetted investor pool ultimately pushed pricing well beyond the expectations resulting in the highest nominal pricing ever achieved for a retail property through an online sale process.
To learn more, please visit the Moreno Valley Mall property page or contact us at info@rimarketplace.com.
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