MTSA Properties LLC Acquires Renovated Retail Space In Azusa From California Icon LLC For $4.31M

The property asset involved in this transaction is a retail space located at 843 West Arrow Highway in Azusa, California. The sale price was $4,314,000 for a newly renovated establishment spanning 3,800 square feet, resulting in a price per square foot of $1,135 on a parcel of land that measures 0.81 acres.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,314,000
• Address: 843 West Arrow Highway, Azusa, California
• Acres: 0.81
• Square Footage: 3,800
• Price Per Square Foot: $1,135
• Buyer: MTSA Properties, LLC
• Seller: California Icon LLC
• Buyer's Representative: Sheila Alimadadian - Marcus & Millichap
• Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group

This transaction involved a 1031 exchange, facilitated shortly after the store's reopening. Hanley Investment Group managed the arrangement of the sale, with Bill Asher and Jeff Lefko representing the seller, California Icon LLC, while Sheila Alimadadian represented the buyer, MTSA Properties, LLC.