The largest retail investment sale in the Central Valley so far this year happened in northeast Fresno with little public notice — and it took a second major deal to reveal it.
Riverview Shopping Center, at the northeast corner of Friant and Fort Washington roads, sold for $21.02 million back in January, according to a first-quarter Fresno retail report from commercial brokerage Lee & Associates. The multi-tenant center, which includes nightlife hotspots The Standard, The Woodward and Starving Artist’s Bistro, totals 109,681 square feet in the report, putting the sale price at $191.70 per square foot. The report lists the seller as LeFever Mattson Property Management and identifies the buyer as United Brands. County assessor records list the buyer as Riverview Center LLC, with Nesser D. Zahriya listed as an agent in state records.
According to BizProfile.net , Zahriya is also involved with South San Francisco-based Jz Developments LLC as the manager and registered agent.
The transaction didn’t seem to make the local news headlines when it closed. Its standing became clear only after Cedar Tree Village Shopping Center sold in July for $20.85 million. In reporting on that deal, brokerage Visintainer Group and data provider CoStar identified Cedar Tree as the region’s second- largest retail investment sale of 2026 — ranking it behind Riverview.
Riverview sits directly across from Woodward Park, at an intersection that carries about 26,377 vehicles a day, according to leasing brokerage Retail California. The center’s tenants include Starbucks, Panda Express, Fleet Feet Sports, Sport Clips, several restaurants and a fitness center, along with salon and service uses. Retail California markets the property for lease and lists average household income within one mile at $169,402, citing Claritas data.
The sale closed as Fresno’s retail fundamentals held steady. Lee & Associates reported a vacancy rate of 5.7% in the first quarter, modestly above historical averages after recent construction added supply. Average asking rents were about $19.50 per square foot, with annual growth of 0.9%, according to the report. The brokerage said new deliveries have outpaced tenant demand over the past year, contributing to the uptick in vacancy.
Amanda Brock, a senior executive vice president and principal at Lee & Associates, wrote in the report that performance varied by property type, with power centers holding the lowest vacancy while malls and neighborhood centers remained more challenged.
Cedar Tree Village, a 118,417-square-foot grocery-anchored center at Herndon and Cedar avenues, closed July 16 when Cedar Tree Village LLC sold to Irvine-based Pacific Castle PM Inc. Visintainer Group, which represented the seller, said the property drew seven qualified offers.