Bank building sells

A Citibank branch office in Riverside has been sold. Faris Lee Investments completed the sale of the building, a 7,508-square-foot structure at 3580 Tyler St. across from the Galleria at Tyler, according to a statement released Wednesday. Shaun Riley, senior managing director with Faris Lee, represented the buyer, a family trust in Newport Beach whose name wasn’t released. Equity Investment Advisors represented the seller, CP Sunshine LLC, in Lafayette. Cost of the building was $4.8 million. Citibank has nine years left on its property lease, according to the statement. Faris Lee, an Irvine-based retail investment and sales firm, recommended the property to its client because it’s so close to the Galleria, the popular regional mall, and to a Target, according to the statement.

Written by Joe Ascenzi


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