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| Altadena Crossing Shopping Center, 2230-2268 Lincoln Avenue, Altadena, CA |
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| Jessica Kelley |
ALTADENA, CA – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, announced the sale of Altadena Crossing, a
43,108-square-foot shopping center in Altadena, Calif.
The terms of the sale
were not released.
Martin
Agnew, vice president investments, and Jessica Kelley, senior
associate, both in Marcus & Millichap’s Encino office, represented the
buyer, a private family trust. Sharone Sabar, first vice president
capital markets in MMCC’s Encino office arranged financing for the transaction.
“Altadena
Crossing is anchored by Super King Markets, the area’s top-performing grocer,”
says Agnew. “With virtually no available land for new development, the center
is insulated against future competition.”
“The trade area is served by a limited number of shopping
alternatives,” adds Kelley. “Altadena Crossing benefits from more than 130,000
nearby residents, plus a daytime workforce population of approximately 55,000
people.”
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| Martin Agnew |
Built in 2006 on 1.28 acres, Altadena Crossing is located at
the intersection of Lincoln Avenue and Crosby Street at 2230-2268 Lincoln Ave.
in Altadena.
The location offers immediate access to Highway 210, and is close
to Interstate 110, Interstate 5 and Highway 2.
Altadena is north of Pasadena
and approximately 14 miles from downtown Los Angeles.
Altadena Crossing’s major tenants are Verizon Wireless,
Panda Express, Bank of America, 24 Hour Fitness and Subway. Bank of America, 24
Hour Fitness and Subway were not a part of the offering.
At the time of the
sale, the property was 100 percent occupied.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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