Updated Dec 4, 2024
TRC Retail Acquires Retail Property In La Canada Flintridge For $66M
890 Town Center Drive & 990 Town Center Drive
$66,000,000
$284/SF
Building Size
115,939 SF
Asset Type
Retail
Closing
Mar 8, 2024
About this deal
AI
The retail property located at 890-990 Town Center Drive in La Canada Flintridge, Los Angeles, was recently sold for $66,000,000. The asset spans 115,939 square feet, equivalent to a price per square foot of $569. The transaction took place between TRC Retail, the buyer, and IDS Real Estate Group, the seller. The seller was represented by Pete Bethea, Rob Ippolito, and Glenn Rudy from Newmark.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $66,000,000
- Address: 890-990 Town Center Drive
- Market: La Canada Flintridge, Los Angeles
- Square Footage: 115,939
- Seller: IDS Real Estate Group
- Buyer: TRC Retail
The notable individuals involved in this deal were the seller's representatives, Pete Bethea, Rob Ippolito, and Glenn Rudy of Newmark. Their expertise and negotiation skills were crucial in finalizing the transaction for the retail property in La Canada Flintridge.
On the Map
$66,000,000
$284/SF
Retail
View full map
Players
La Canada Flintridge Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Rob Ippolito to view all their deals.
Browse La Canada Flintridge retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93