LA CANADA, CA-A private investment partnership has acquired the 42,093-square-foot Foothill Promenade at 475 Foothill Blvd. from Dollinger Properties of Redwood City, CA for $16 million in an off-market transaction. The property, a neighborhood shopping center that was built in 1995, was 100% occupied at the time of sale, according to William B. Asher of Irvine, CA-based Hanley Investment Group, who represented the buyer along with Jim Barthe of Real Estate Portfolio Specialists of Pasadena and Paul and Nathan Strauss of ASB Property Management Inc. of Monrovia.

The center is situated on 2.75 acres at the signalized intersection of Foothill Boulevard and Gould Avenue. Tenants include Trader Joe’s, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty.

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