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Catellus Divests South Gate ALDI-Anchored Center
Oakland, CA-based Catellus Development Corporation sold The Crossroads @ Firestone in South Gate, CA to Los Angeles-based SAFCO Capital Corporation for $29.5 million. The 53,262-square-foot ALDI-grocery-anchored shopping center was built in 2017, and located on 5.96 acres at 5802-5840 Firestone Blvd.
Hanley Investment Group’s Ed Hanley represented the seller and the buyer. David Swartz of Crosbie Gilner Schiffman Southard & Swanson LLP provided legal counsel for the buyer.
“There is high demand for newly-built, grocery-anchored neighborhood centers in dense, infill markets,” said Hanley. “Using Hanley Investment Group’s proprietary database, we identified a Los Angeles-based 1031 exchange buyer who was looking to transition their portfolio to high-quality assets.”
The grocery-anchored shopping center is 100% occupied by national and regional credit tenants.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




