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4/21/26
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Portola Real Estate Partners has purchased The Shops at Walnut Hills Plaza, a fully leased 37.2k sf multi-tenant retail center in Walnut, for $13.525 mil ($364/sf). The property is located at 18718 - 18766 Amar Rd, on the east side of Nogales St, in the eastern San Gabriel Valley.
Built in 1983, The Shops at Walnut Hills Plaza features 19 e-commerce resistant tenants including restaurants, medical, beauty, and daily-needs operators. Tenants include O’Reilly Auto Parts, Little Elephants Kids Place, Osuna’s Mexican Restaurant, Papa John’s Pizza, Native Fields Restaurant, Walnut Hills Family Dentistry, Pediatric Dentistry, Sky Nails and many others.
The Shops at Walnut Hills Plaza is ideally located in the heart of the San Gabriel Valley, one of Southern California’s most affluent submarkets. It serves ±142,010 residents within three miles and ±55,600 students, at nearby educational institutions, including Cal Poly Pomona and Mt. San Antonio College.
Progressive Real Estate Partners Senior Vice President of Retail Leasing Investment Sales Roxy Klein and Senior Vice President and Managing Director Greg Bedell represented the seller, a Los Angeles-based private investor.
“Buyer interest with this transaction was driven by the center’s strong San Gabriel Valley demographics— high incomes, dense surrounding neighborhoods — and its location along a high-traffic, signalized corridor offering excellent visibility and access,” said Bedell. “There remains a notable lack of available investment product in infill San Gabriel Valley markets, which continues to support pricing and competitive bidding dynamics. Overall, this sale underscores that investors are increasingly willing to deploy capital for durable cash flow in fundamentally strong locations— especially when paired with a clear path to income growth.”
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