{"id":1004349047,"date":"2019-08-29T07:30:36","date_gmt":"2019-08-29T15:30:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004349047"},"modified":"2019-09-03T05:28:41","modified_gmt":"2019-09-03T13:28:41","slug":"la-area-retail-sells-for-31m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/","title":{"rendered":"LA-Area Retail Center Sells for $31M"},"content":{"rendered":"
\"\"<\/a>

Monrovia Landing. Image courtesy of CBRE<\/em><\/p><\/div>\n

A joint venture between Telos Capital and Warner Pacific Properties has sold Monrovia Landing, a 96,885-square-foot grocery-anchored retail center<\/a> in Monrovia, Calif., for $30.5 million. CBRE\u2019s NRP-West team represented the seller, while Marcus & Millichap worked on behalf of the buyer, a Los Angeles-based, 1031 exchange investor.<\/p>\n

Situated at 723-737 E. Huntington Drive, the retail center occupies more than 6 acres near Interstate 200 and is adjacent to a 24-Hour Fitness and Trader Joe\u2019s corporate office. Additionally, the asset is positioned near residential areas\u2014there are more than 4,700 rental units alone within a 3-mile radius, according to Yardi Matrix.<\/p>\n

After acquiring the building in 2016, Warner Pacific Properties began a re-tenanting and repositioning of the center, which is currently 100 percent occupied by six tenants on long-term NNN leases. The tenants include Aldi, T.J.Maxx\/HomeGoods, ULTA Beauty and O\u2019Reilly.<\/p>\n

CBRE\u2019s retail experts included Senior Vice Presidents Patrick Wade and Alex Kozakov, Associate Sean Heitzler, Vice President Jimmy Slusher and Vice Chairman Philip Voorhees. Marcus & Millichap\u2019s First Vice President Sheila Alimadadian represented the buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 100 percent leased grocery-anchored asset traded to a Los Angeles-based 1031 exchange buyer. <\/p>\n","protected":false},"author":871,"featured_media":1004349050,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21742,21749,15],"tags":[32789,34836,34092,46814],"class_list":["post-1004349047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-cbre","tag-marcus-millichap","tag-the-telos-group-llc","tag-warner-pacific-properties"],"acf":[],"yoast_head":"\nLA-Area Retail Center Sells for $31M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LA-Area Retail Center Sells for $31M\" \/>\n<meta property=\"og:description\" content=\"The 100 percent leased grocery-anchored asset traded to a Los Angeles-based 1031 exchange buyer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-29T15:30:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-03T13:28:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Monrovia_Landing_1000x600.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/\",\"name\":\"LA-Area Retail Center Sells for $31M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Monrovia_Landing_1000x600.jpg\",\"datePublished\":\"2019-08-29T15:30:36+00:00\",\"dateModified\":\"2019-09-03T13:28:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-sells-for-31m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Monrovia_Landing_1000x600.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Monrovia_Landing_1000x600.jpg\",\"width\":800,\"height\":620,\"caption\":\"Monrovia Landing. 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