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Repositioned Retail Center in Monrovia Sold for $31M
Monrovia Landing, a grocery-anchored asset in Monrovia, CA, has traded hands for $30.5 million. The 100%-leased property is home to high-performing, national credit tenants Aldi, TJ Maxx/Home Goods, ULTA and O’Reilly among others.
CBRE’s Patrick Wade, Alex Kozakov, Sean Heitzler, Jimmy Slusher and Philip Voorhees represented the seller, a partnership between Pasadena-based Telos Capital, and Warner Pacific Properties, a real estate development firm. The Los Angeles-based buyer was represented by Marcus & Millichap’s Sheila Alimadadian. The buyer picked up the asset as a 1031 exchange from a prior sale.
After acquiring the 96,885-square-foot property in 2016, Warner Pacific Properties began a re-tenanting and repositioning program for the center. Situated on more than six acres, Monrovia Landing is located at 723-737 E. Huntington Dr.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




