Arcadia Acquires Retail Property In La Verne For $20.7M

The property involved in this closed transaction is a retail asset located at 2204-2278 Foothill Blvd in Los Angeles, specifically in the La Verne market. The property was sold for a total of $20,700,000.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $20,700,000
• Address: 2204-2278 Foothill Blvd, Los Angeles
• Market: La Verne

The buyer in this transaction is Arcadia represented by Chang Shu, while the seller is Delta-JC LLC. The brokers involved in this deal are Ed Hanley, Bill Asher, and Kevin Fryman from Hanley Investment Group.

This retail property, built in 2000, is situated at the corner of Foothill Boulevard and White Avenue in a heavily-traveled area of La Verne. It benefits from an average daily traffic count of approximately 42,500 cars. The sale of this property highlights the continued demand for well-located grocery-anchored shopping centers leased to internet-resistant tenants. The buyer was sourced through a Hanley Investment Group broker relationship, and they successfully helped their client acquire a multi-tenant shopping center investment, which complements their existing portfolio of single-tenant net leased assets.

Note: The above information is sourced from the LA Business Journal.