The Riverdale Shopping Center in Mission Gorge has been sold for $10.1 million to Becker Properties, LLC.
Built in 1980, the 66,416 square-foot center on 10.2 acres of land at 10320-10370 Friars Road is anchored by CVS pharmacy and includes Black Angus restaurant and Armstrong Nursery.
The seller was a partnership that included Peckham Properties, Inc., Commercial Sites Limited, and Wells Fargo Bank as trustee of McKinney Survivor’s Trust. SENTRE, a commercial real estate investment firm, advised the seller.
Representing the partnership in the sale were CBRE Executive Vice President Phillip D. Voorhees, Senior Vice President Reg Kobzi, and Jimmy Slusher, Kirk Brummer, Megan Wood and Sean Heitzler of CBRE.
Kobzi also represented Becker Properties.
“The shopping center is an infill property and 50 percent of the tenants have been on the property for more than 20 years,” said Brad Becker, principal of Becker Properties. “The sales volumes for the tenants are excellent, the rents are well below market and there is an opportunity to refresh the appearance and tenant mix in the near future.”