Progenitor Holding purchased the center from Donahue Schriber, an Orange County-based retail developer. The company would not reveal the sale price but the property was listed for $8.9 million.
The Five Points Shopping Center is a 50,440-sf property and is located at the Intersection of Arden Way and Fair Oaks Boulevard. The center, which was built about 25 years ago, has been remodeled several times over the past decades, with the most recent renovation project ending in 2000.
The tenants of Five Points, a fully-leased property, include Picadilly Circus, a specialty natural foods store; Hollywood Video; Longs Drugs; Cold Stone Creamery; Bella Bru Café; and Steve's Pizza.
John DuBois and Jon Gianulias of CB Richard Ellis in Sacramento represented both the buyer and seller in this deal.
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