Weingarten Realty sells Buena Vista Marketplace for $38M

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

TRD LOS ANGELES /
Oct.October 16, 2017 03:00 PM
Buena Vista Marketplace plaza at 1193 Huntington Drive in Duerte with Weingarten Realty CEO William Gerrity (Credit: LinkedIn, Realtor.com)

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
Foot Traffic At Major LA Retail Arteries Down Significantly

TRD Insights: LA retail hasn’t rebounded in these major submarkets

TRD Insights: LA retail hasn’t rebounded in these major submarkets
Carson Mayor Albert Robles and a rendering of the proposed project (Credit: The city of Carson)

Simon-Macerich mall project in Carson sparks latest legal claim

Simon-Macerich mall project in Carson sparks latest legal claim
Alicia Silverstone from the film 'Clueless', 1995, and a rendering of the Beverly Center (Credit: Paramount Pictures/Getty Images, and Beverly Center via Los Angeles Times)

For LA’s malls, lawsuits could be the next crisis

For LA’s malls, lawsuits could be the next crisis
Baldwin Hills-Crenshaw Plaza mall and CIM co-founder Avi Shemesh

CIM Group backs out of mall buy after community backlash

CIM Group backs out of mall buy after community backlash
The Egyptian theater (Credit: iStock)

LA movie theaters will soon reopen, but they won’t be the same

LA movie theaters will soon reopen, but they won’t be the same
From left: Bill Shopoff, Sandy Sigal, and David Simon

Payment Gap: Retailers are reopening, but many aren’t paying rent

Payment Gap: Retailers are reopening, but many aren’t paying rent
Joshua Golcheh

The way out: Developer cites coronavirus in suit to exit OC shopping center deal

The way out: Developer cites coronavirus in suit to exit OC shopping center deal
Rick Caruso, the Grove mall (Credit: Donato Sardella/Getty Images, and CARUSO)

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts
arrow_forward_ios

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

Loading...