WALNUT, CA-A private investor has acquired 39,701 sf of the 107,000-sf Walnut Hills Plaza from Irvine-based Passco for $12.1 million in one of two separate retail property sales totaling $19.4 million. The Walnut space is part of a grocery-anchored neighborhood shopping center in this San Gabriel Valley city.
Ken McLeod and Tom Lagos of Grubb & Ellis report that the space is part of a center that is anchored by Albertsons and Bridgestone/Firestone, which were not part of the sale. Tenants in the portion of the center that sold include Taco Bell, Kragen Auto Parts, True Value Hardware and Fantastic Sam's.
McLeod and Lagos represented the seller of the property, which was 100% leased at the time of the sale. The buyer was represented by Jeff McGuire of Re/Max Commercial.
In the other retail deal that closed recently, the Charles Dunn Co. reports that an 8,583-sf building at 8900 Santa Monica Blvd. traded for $7.3 million in a deal between two private investors. The class A property at Robertson and San Vincente boulevards was built in 1954 and was 100% occupied at the time of the sale.
Jonathan Ahron and David Aschkenasy of Charles Dunn's West Los Angeles office represented the buyer and the seller of the two-story property. The center is occupied by Citibank, Mrs. Fields, the Gay and Lesbian Center and a jewelry store.
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