JLL Capital Markets represented a private seller in the $25.78-million sale of Shops at Plaza West Covina, a 46,406-square-foot shopping center located in West Covina. The buyer was Phillips Edison & Company.
Plaza West Covina is located at 310 S California Ave. directly adjacent to the Plaza West Covina Mall, the sixth most popular regional mall in California with more than 8.9 million annual visitors. The retail center spans 46,406 square feet and was 88% occupied at the time of sale.
JLL Capital Markets’ Investment Sales and Advisory team representing the seller was led by managing director Daniel Tyner and senior managing directors Geoff Tranchina and Gleb Lvovich.
“Well-located unanchored strip centers throughout the greater Southern California market have continued to perform well very,” said Tyner. “The demand from institutional, private and 1031 capital remains robust and we expect this to continue as these well-located assets continue to provide great investment opportunity to the greater the market.”
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