Ron Vachris Of Costco Wholesale Acquires Retail Asset From Conor Flynn Of Kimco Realty For $58.9M

The retail asset located at 2207 West Commonwealth Avenue in Alhambra, CA, encompasses 18 acres. The property spans 195,473 square feet and was sold for $58,900,000, resulting in a price per square foot of $301.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $58,900,000
• Address: 2207 West Commonwealth Avenue
• Market: Alhambra, CA
• Acres: 18.0
• Square Footage: 195,473
• Price per Square Foot: $301
• Buyer: Ron Vachris - Costco Wholesale
• Seller: Conor Flynn - Kimco Realty

In this transaction, Kimco Realty executed the sale of Costco Plaza, aligning with its strategy to divest low-growth assets while reallocating resources into grocery-anchored centers. This sale formed part of a larger effort involving four Costco-anchored properties totaling approximately $127 million, indicating Costco's acquisition of fee interests in properties they currently occupy across various markets.