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Barings Acquires Ralphs-Anchored Center from First Washington
CBRE arranged the $66.2-million sale of Village Center at Rose, a 118,876-square-foot, Ralphs-anchored shopping center at 600-858 N. Rose Dr. in Placentia. Barings acquired the fully leased property from First Washington Realty. Jimmy Slusher, Mark Damiani, James Tyrrell and Shaya McClanahan of CBRE’s National Retail Partners – West represented the seller.
Built in 1996, Village Center at Rose sits on 10.15 acres at the northeast corner of North Rose Drive and Alta Vista Street. Ralphs, which has operated at the center since it opened, occupies 37% of the gross leasable area. Eighty percent of existing tenants have occupied the property for more than 10 years.
“The center serves a dense trade area with strong household incomes and limited new retail supply,” Damiani said. “More than 147,000 people live within three miles of the center, and nearby new housing continues to add to the demand that Ralphs and the surrounding tenants serve.”
- ◦Sale/Acquisition
