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Yucaipa Retail Center Trades at a Premium
Marcus & Millichap arranged the sale of Center Point Plaza, a 28,924-square-foot retail property located at 33490-33492 Oak Glen Rd. in Yucaipa. The property was sold for $10,800,000, or $373 per square foot.
The sale was managed by the Ovaness-Rostamian Group of Marcus & Millichap’s Los Angeles office, with Ivan Prochko, Orbell Ovaness and Ara Rostamian representing the seller, a partnership. The buyer, a private investor, was represented by Bashir Tariq of Keller Williams Realty.
“We’re proud to have achieved a premium for our clients on the 33490-33492 Oak Glen Rd transaction,” said Prochko. “This complex, value-add opportunity required creativity, problem-solving and a deep understanding of the market. Our team successfully transformed a dynamic retail center into a game-changing asset, delivering exceptional results in today’s challenging market.”
Added Ovaness, “Center Point Plaza isn’t just a retail space; it’s a vibrant community hub. Its tenant mix is both diverse and essential, catering to the daily needs of the community while also providing a stable income stream for investors.”
- ◦Sale/Acquisition
