(For more retail coverage, click GlobeSt.com/RETAIL.)
ONTARIO, CA-The 95,421-sf Driftwood Village shopping center,anchored by grocery and drug stores, has sold for $20.45 million,according to Marcus & Millichap. The property, at 2238-2252South Euclid Ave., is occupied by long-term tenants and hastraditionally maintained a high level of occupancy, brokers in thedeal say.
According to Orbell Ovanespour, a retail investment specialistin the West Los Angeles office of Marcus & Millichap, DriftwoodVillage benefits from "excellent shopping, dining and entertainmentoptions in the area," which is near the 60 and 10 freeways.Ovanespour represented the Southern California-based privateinvestors who sold the property, with the buyer represented byPatrick Minoofar, a retail investment specialist also in the WestLos Angeles office of Marcus & Millichap.
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