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Signal Hill Retail Center Trades Hands
Phoenix-based BIG Shopping Centers USA, Inc. sold Towne Center East, a fully-leased, 154,750-square-foot retail center in Signal Hill, CA. The buyer was reportedly Chicago-based ShopCore Properties, which paid $61 million for the asset. The center is 100% leased to two high-performing anchors, The Home Depot and PetSmart, along with such inline tenants Supercuts, T-Mobile, Subway and GNC.
The JLL Capital Markets team representing the seller was led by Patrick Toomey and Tom Lagos. The JLL Capital Markets debt placement team, representing the new owner in placing the fixed-rate acquisition loan with a global investment bank, included Matthew Stewart and Reid McGlamery.
Lagos says, “The sale of Towne Center East is another example of the strong demand for quality retail real estate in Southern California. The property attracted a spectrum of private and institutional bidders seeking well-located real estate with a risk averse income stream.”
The asset is located at 2172-2598 Cherry Ave., in a dense, infill location adjacent to Long Beach.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




