The sales price of $158 per sf is "probably the highest price per square foot paid for a center in Pacoima," says broker George Russell of the Charles Dunn Co. Russell and Dunn's Tanel Harunzade represented the seller of the center, Beverly Hills, Calif.-based M&A Gabay, a developer and investment firm.
The supermarket has occupied the center since seller M&A developed the property in 2000, Russell tells GlobeSt.com. He says the grocery store has been a highly successful tenant, serving a Pacoima population that is approximately 70% Hispanic. He says M&A developed the center on a build-to-suit basis for Superior, which has about a dozen stores in the Los Angeles area.
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