Lucescu Realty Sells Community Shopping Center, In Southern California, For Weingarten Realty, For $89 Million
- LUCESCU REALTY exclusively represented the interest of the Seller, Weingarten Realty, and procured the Buyer, a private investor, based in Newport Beach, CA.
- An approximate 393,465 Square Foot Portion of an Approximate 704,927 Square Foot Community Shopping Center anchored by Target (NAP), Winco Foods (NAP), Burlington, 24 Hour Fitness, Cinemark, Best Buy, Bed Bath & Beyond, PetSmart, Rite Aid, Big 5 Sporting Goods, Staples (NAP), 99 Cents Only Stores (NAP) and Ulta.
- Co-Anchored by Target; one of the largest, most successful and credit worthy retailers in the world, that provides a tremendous draw to the center.
Located at one of the Most Dynamic Intersections in the Inland Empire, with more than 1.1 Million Square Feet of GLA at the intersection.
- Offering included the Grocery, Lifestyle and Entertainment portions of the Property, including most of the Major tenants, all of the inline shops and thirteen (13) of the sixteen (16) freestanding, single- and multi-tenant, out pad buildings in Phases II & III of the Property.
- 98.1% leased; with regional and national tenants accounting for more than 90% of the GLA.
- All Cash Offering.