HB Property Management Acquires Commercial Asset In Covina For $4.6M

The property involved in this transaction is a restaurant located at 1477 N Azusa Ave in Covina, California. The asset type is commercial, and it was acquired for a transaction amount of $4,600,000. The property benefits from a long-term lease, as Pollo Campero, a fast-casual restaurant, has signed a 15-year, triple-net ground lease. Construction on the restaurant is nearing completion, with plans for opening at the end of September.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $4,600,000
• Buyer: HB Property Management
• Seller: SBH Real Estate Group
• Buyer's Representative: Moon Lim - Daum Commercial Real Estate Services
• Seller's Representative: Matthew "Matt" Schwartz - Newmark

Key individuals involved in the deal include Eric Silverman, representing the seller, SBH Real Estate Group, while Moon Lim led the representation for the buyer, HB Property Management. Matt Schwartz facilitated the transaction for the seller's side, contributing his expertise to finalize the deal.