Los Angeles County Shopping Center Fetches $15.7 Million

  

 SAN DIMAS, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of San Dimas Station (top left photo), a 148,958-square foot shopping center in the eastern San Gabriel Valley city of San Dimas. The sales price of $15,750,000 equates to $106 per square foot.

            Alan Krueger (middle right photo), a senior vice president investments, and Richard Longobardo (lower left photo), an associate vice president investments, both in Marcus & Millichap’s Ontario, Calif. office, represented the Northern California-based seller. Krueger and Longobardo also represented the buyer, a local private investor.

“The property attracted strong interest from a wide variety of investors,” says Krueger. “Buyers have been tracking the Los Angeles area’s continuing retail recovery and keeping an eye out for well-located retail centers.”

“The San Dimas Center’s location in a trade area that is highly developed with little land available for new development and high barriers to entry make it especially attractive,” adds Longobardo.

The property is located at 515 West Arrow Highway with excellent visibility from California State Route 57, the Orange Freeway, and is easily accessible from an Arrow Highway off ramp. The shopping center has two sections, an 88,205-square foot north section and a 60,753-square foot southern section, which make the property easily accessible from both north and south.

San Dimas Station was constructed on 16 acres between 1986 and 1987. The architectural style of the center reflects the area’s equestrian character.

Major tenants of the property include 99¢ Only, Baskin Robbins, Furniture Depot and Zendejas Mexican Restaurant.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716