California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Newmark Executes $137M Sale of LA County Retail Portfolio
Retail institutional investor EDENS has purchased a trio of grocery-anchored shopping centers comprising over 400,000 square feet in Los Angeles County. Newmark arranged the $136.8 million sale representing the seller, Combined Properties, Inc.
“The portfolio presented a unique opportunity to acquire three, high-performing, grocery-anchored shopping centers,” said Newmark’s Pete Bethea who arranged the transaction along with the firm’s Glenn Rudy, Rob Ippolito, Bill Bauman and Kyle Miller. “We are honored to have been a part of an execution that truly benefited both parties.”
The three properties consist of:
-The Commons at La Verne, a 121,000-square-foot center, anchored by Vons and Ross in La Verne, CA.
-Montebello Mix, a 94% occupied, 216,000-square-foot center, anchored by Vons, Rite Aid, Ross Dress for Less and Marshalls in Montebello, CA.
-Foothill Plaza (pictured), a 65,000-square-foot asset, anchored by Sprouts Farmers Market and Bank of America in La Verne, CA.
- ◦Sale/Acquisition
