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Cardenas Markets Store in Whittier Trades for $15M
Corona del Mar-based Hanley Investment Group Real Estate Advisors arranged the sale of a brand-new, single-tenant Cardenas Markets in Whittier for $14,810,250. The deal represents a cap rate of 5.03% for the 34,642-square-foot property at 11750 Whittier Blvd.
The buyer, an undisclosed Los Angeles County private investor, was represented by CBRE’s Gary Stache, Doug Mack, and Chris Martin. Hanley’s Carlos Lopez and Lee Csenar represented the seller, an unnamed Hawaiian private investor.
Lopez says, “Within several weeks of formally marketing the property, we had procured five qualified offers and selected a 1031 buyer who opened escrow non-contingent at approximately 99.4% of the list price and closed escrow in three days to achieve the seller’s goal of a year-end closing for tax benefits and estate planning.”
Ontario, CA-based Cardenas Markets is one of the country’s leading Hispanic grocery chains. The Whittier store, which opened last year on 3.62 acres, was the company’s first Los Angeles area location to open.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




