GARDENA, CA-Gateway Crossings, a community center redeveloped from industrial property, has been sold to an undisclosed family trust. The deal was financed, but loan terms were not disclosed.
Gateway Crossings is 96% occupied and includes Ross Dress for Less, Staples, Goodwill, UEI College, Anna's Linens, Subway, and Ono Hawaiian, among others. The center is located at 641-739 W. Redondo Beach Blvd.
Donald MacLellan and Michael Ward of Faris Lee Investments represented the seller, a joint venture partnership of PCCP LLC and La Caze Development. MacLellan and Ward also represented the buyer, a private family trust that was in a 1031 Exchange, a tax measure that allows sellers to defer capital gains taxes.
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