{"id":1004177161,"date":"2017-05-17T05:13:53","date_gmt":"2017-05-17T13:13:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177161"},"modified":"2020-04-14T02:12:56","modified_gmt":"2020-04-14T10:12:56","slug":"la-area-retail-asset-trades-for-20m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-area-retail-asset-trades-for-20m\/","title":{"rendered":"LA-Area Retail Asset Trades for $20M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004177162\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177162\" data-attachment-id=\"1004177162\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-asset-trades-for-20m\/11729-imperial-highway-norwalk-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg\" data-orig-size=\"1135,875\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Mihaela Coste&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1495026356&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"11729 Imperial Highway, Norwalk, Calif.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg?w=1024\" class=\"wp-image-1004177162 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg\" alt=\"11729 Imperial Highway, Norwalk, Calif.\" width=\"300\" height=\"231\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg 1135w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg?resize=300,231 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg?resize=768,592 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/11729-Imperial-Highway-Norwalk-Calif..jpg?resize=1024,789 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004177162\" class=\"wp-caption-text\">11729 Imperial Highway in Norwalk, Calif.<\/p><\/div>\n<p>Marcus &amp; Millichap has closed the sale of a 111,830-square-foot Walmart-anchored retail center located in Norwalk, Calif. The triple-net-leased asset traded for $20.2 million, or $181 per square foot.<\/p>\n<p>Mike James, senior managing director, and Scott Doerner, associate, in Marcus &amp; Millichap\u2019s Encino office represented the seller, which, according to <em><a href=\"https:\/\/therealdeal.com\/la\/2017\/05\/12\/heres-what-las-10m-30m-investment-sales-market-looked-like-this-week-3\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">The Real Deal<\/a><\/em>, is Newmark Merill Co. The buyer is Margaret Wang Trust, a Southern California-based private investor.<\/p>\n<p>Located on a 7.6-acre site at 11729 Imperial Highway, the property is directly visible from Interstate 5 and is located in close proximity to Interstate 605, in an area where more than 650,000 people live within five miles. The single-story asset was built in 1998.<\/p>\n<p>\u201c<em>Well-located net-leased assets such as this with excellent brand recognition and strong tenancy continue to receive multiple offers as investors seek to deploy capital amid continued historically low interest rates,<\/em>\u201d said James in a prepared statement. \u201c<em>We marketed this property to a select group of investors and attracted a buyer who sought an income-producing asset of precisely this size and quality.<\/em>\u201d<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &#038; Millichap facilitated the transaction of the 111,830-square-foot Walmart-anchored center in Norwalk on behalf of the seller, Newmark Merill Co.<\/p>\n","protected":false},"author":1192,"featured_media":1004177162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21749,15],"tags":[34836,34942],"class_list":["post-1004177161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-retail","category-west","tag-marcus-millichap","tag-newmark-merrill-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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