The shopping center, which encompasses 22,000-sf, stands at 18751-18797 E. Colima Rd. It was 100% occupied at the time of sale, with mom-and-pop retail tenants.
"The retail market is very hot in this area because we don't have much product up for sale here," says Grace Yoon, a Colliers Seeley International broker who worked on the deal. "There are low vacancy levels, so most owners don't want to sell," she tells GlobeSt.com.
Rowland Heights is an affluent area, with a strong demographic base that appeals to retailers, according to Yoon. In addition, the property's location on Colima Road provides easy access for shoppers.
Yoon represented the buyer and the seller, Jong Yang, in the transaction.
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