The buyer is Pan Pacific Retail Properties. Its new acquisition is Brookhurst Center, a 181,000-sf retail complex on Brookhurst Avenue.
The retail center is just a few blocks from Disneyland and the theme park's sister attraction, California Adventure. Both the buyer and the seller, Southland-based partnership Brookhurst LLC, were represented by Grubb & Ellis broker Dixie Walker.
Disney Corp., the Burbank-based entertainment conglomerate that operates both Disneyland and California Adventure, says ticket sales have recently jumped at the two theme parks. That's good news for property owners in the area, who depend on Disneyland to generate more traffic for their projects.
Pan Pacific is a retail real estate investment trust that already owns several Southland properties.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
