HPC21 Revocable Trust Acquires Retail Asset In South Gate For $2.7M

A multi-tenant retail shopping center located at 5810 Imperial Hwy in South Gate, CA has been successfully closed. The property, consisting of six storefronts, was sold by Arun Patel. The buyer, HPC21 Revocable Trust represented by Patrick Chien, acquired the asset. The transaction was facilitated by Joseph Dahan, Elijah Suval, and Daniel Hirth of The Hirth Group.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,714,888
• Square Footage: 8,970 SF
• Price per Square Foot: $302
• Address: 5810 Imperial Hwy, South Gate, CA
• Market: South Gate

The sale of the property was motivated by the seller's desire to capitalize on the current real estate cycle and conduct a tax deferred 1031 exchange. The property garnered significant interest, with multiple offers received within just two weeks of marketing. Ultimately, the buyer, who needed to place funds to avoid paying taxes, submitted an offer above the asking price with clean terms.

Note from The Hirth Group: Joseph Dahan, Elijah Suval, and Daniel Hirth are pleased to announce the successful closing of 5810 Imperial Hwy. They represented the seller, Arun Patel, in this transaction.