Weingarten Realty sells Buena Vista Marketplace for $38M

The privately-held buyer owns several other shopping centers on the West Coast

Los Angeles /
Oct.October 16, 2017 03:00 PM

Retail real estate firm Gerrity Group has acquired the Buena Vista Marketplace at 1193 Huntington Drive in Duarte for $38.1 million, records show.

The seller of the 91,850-square-foot shopping plaza is real estate investment trust Weingarten Realty, which bought the property for $10.6 million in 2001.

Spanning three buildings, the 1990-built retail plaza is 98 percent occupied with tenants including Smart & Final Extra!, Dollar Tree, Hertz, Starbucks, Subway and UPS.

Following the sale, Weingarten will still own two other centers in the area, including the Westside Center near Beverly Hills and the massive 8000 Sunset Strip outdoor plaza in West Hollywood. The retail property owner and developer also owns 20 other plazas in California, according to its website.

This marks the second property in Los Angeles County for Gerrity—the company also owns the Cerritos Towne Center (which it acquired for $87.6 million in 2011). The firm owns approximately 3.2 million square feet, and has some operations in China.


Related Articles

arrow_forward_ios
Gov. Gavin Newsom (Getty)

Statewide curfew means more bad news for restaurants, retailers

Statewide curfew means more bad news for restaurants, retailers
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Macerich CEO Thomas O’Hern and Santa Monica Place mall

Here’s what tenants are paying at Macerich’s Santa Monica Place

Here’s what tenants are paying at Macerich’s Santa Monica Place
L.A. businesses can now deny service to any patron not wearing a mask

LA businesses may deny service to those not wearing masks

LA businesses may deny service to those not wearing masks
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Los Angeles County plans to clear several businesses to reopen over the next 10 days

Malls, nail salons, other LA businesses to open in next 10 days

Malls, nail salons, other LA businesses to open in next 10 days
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...