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December 16, 2018
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Gerrity Group Picks Up 92k sf Retail Asset from Weingarten Realty


Gerrity Group paid $38.1 mil for Buena Vista Marketplace, a 92.3k sf ($413/sf), grocery-anchored retail center in the eastern San Gabriel Valley city of Duarte. The property, 98.5% occupied at the time, was sold by Weingarten Realty.

Built in 1990 and situated on 7.4 acres at 1155 to 1245 Huntington Dr, Buena Vista Marketplace features a new, state-of-the-art Smart & Final Extra grocery store, Dollar Tree, Wells Fargo, AT&T, UPS, Subway, Flame Broiler and Jamba Juice, among other tenants.

Pete Bethea, Rob Ippolito and Glenn Rudy with NKF Capital Marketrs represented the seller in the deal. The buyer was self-represented.

“This property has been thriving over the years with 60 percent of its existing tenants calling it home since 1995,” said Bethea. “Buena Vista Marketplace is not only well-maintained and in a key location, it also has been strategically tenanted with a variety of off-price retailers as well as services and restaurant options that are key to the vitality and longevity of shopping centers in today’s competitive environment.”

The City of Duarte is a small community located at the base of the San Gabriel Mountains, approximately 21 miles northeast of Los Angeles and 10 miles from the City of Pasadena.

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