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May 19, 2022
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Hong Kong Buyer Pays $427/sf for San Gabriel Retail Property


A 25.5k sf, three-tenant, grocery-anchored retail center in San Gabriel traded in a $10.9 mil ($427/sf) transaction. The fully occupied asset is located at 7260 Rosemead Blvd.

The center is anchored by Grocery Outlet, which occupies 21.5k sf of th. Other tenants include Bank of America and Wingstop.

Situated on 1.86 acres, the center was built in 1960 and was renovated in 2017 and 2018. It is less than 1.5 miles from the Interstate 210 and Santa Anita Park, a 320-acre historic horse racing track. There are more than 550,000 residents within a five-mile radius.

Matthew Mousavi and Patrick Luther with SRS Real Estate Partners’ Investment Properties Group represented the seller, a West Coast-based owner and operator of retail centers. The buyer was from Hong Kong.

“This retail center was attractive to a wide buyer pool as it is within a dense, infill area of the San Gabriel Valley with 12 years remaining in term on the anchor Grocery Outlet lease,” said Mousavi. “Grocery-anchored retail centers are in extremely high demand from investors as they are essential needs and continue to realize strong sales and customer traffic.”

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