Jason Miszuk, one of the listing brokers tells GlobeSt.com theseller was Festival Outdoor Advertising LLC and the buyer wasSpring Mountain Plaza LLC. Both LLCs are based in California. Thebuyer, which was completing an IRS 1031 Exchange acquired a$4.7-million, non recourse loan on the property as part of thedeal.
"The assumable loan helped the deal," says Miszuk, who wasassisted in the deal by fellow Sun Commercial brokers Cathy Jones,Brad Spies, Paul Miachika and Logan Schrumpf.
The largest tenant is the grocery store, Mediterranean Market,which occupies about 20% of the space. The next largest is KJ'sChinese Kitchen. There are 13 tenants in total.
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