California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Colton Smart & Final Extra! Goes for $8.9M
Connect Retail West is set for January 25th at the Hurley Surf Club Pacific City. Here’s where to get more information and register.
Matthews Real Estate Investment Services handled the $8.9-million sale of a newly constructed 27,800-square-foot freestanding Smart & Final Extra! in Colton, CA. The asset was sold by Evergreen Devco Inc. to an undisclosed developer from Shanghai, China.
The property is located at 1023 N. Mount Vernon Ave., at the intersection of N. Mt. Vernon and Colton avenues. The deal translates to a roughly $320-per-square-foot price, which represents a market-leading number for the Colton submarket, at a 5.50% cap rate.
Matthews Shopping Center Division’s Lindsay Tsumpes and El Warner handled the deal.
Warner says, “We leveraged our platform’s proprietary marketing database which allowed us to run an expansive marketing campaign, fully exposing the asset to both domestic and foreign buyers.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




