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SAN DIMAS, CA-Cameron Pacific, the Santa Monica, Calif.-based acquisition and finance arm of Santa Rosa, Calif.-based STG Group, has completed its first L.A.-area acquisition with the purchase of San Dimas Station shopping center in San Dimas for $10.5 million.

Brian Lezak, president of Cameron Pacific, tells GlobeSt.com that the company bought the 150,000-sf center in a direct buyer-to-seller deal from Shook Development of Irvine, Calif., which had owned the property since 1995. The center is on both sides of Arrow Highway near the 210 Freeway.

Lezak tells GlobeSt.com that Cameron Pacific will renovate and reposition the center, which was 52% occupied at the time of the sale. The plans reflect the strategy of parent company STG, which specializes in repositioning under-performing assets.

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