The Clovis Towne Center is located at 90 West Shaw Ave. The asset was developed in 1984 and encompasses 133,000-sf of a total 282,000-sf center on an 11.05-acre parcel. The sales price was $9.75 million, which represents $73.27 per sf.
The center's tenant roster includes B. Dalton Booksellers, Ross Dress for Less, Clothestime, Wells Fargo Financial, Western Wearhouse, Dollar Tree, Fashion Bug and is shadow anchored by Von's Supermarket, United Artists Theaters and On the Border Mexican restaurant. At the time of the sale, the center was 85 percent occupied.
The transaction was brokered by Trilochan Virdi, a senior associate in the Marcus & Millichap Palo Alto office.
Once considered a mostly rural area, realtors say the Clovis and Fresno areas are being more popular with businesses and commercial development. Clovis is home to such successful businesses as Pelco, Apollo Dental Products, Mi Rancho Tortilla, Anlin Windows, and Valley Chrome. The city has also developed a research and technology business park to attract high tech businesses and further diversify the economy.
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