LA CANADA FLINTRIDGE, CA-IDS Real Estate Group of Los Angeles has acquired the 115,898-square-foot La Canada Flintridge Town Center from La Canada Properties Inc. for $40 million. The retail center, anchored by Sport Chalet and HomeGoods, occupies a 7.6-acre site at La Canada’s main streets of Foothill Boulevard and Angeles Crest Highway, about 20 minutes north of Downtown Los Angeles.

The center was developed in 2008 by La Canada Properties, which is owned and operated by the Olberz family, the original founder of Sport Chalet. It comprises eight single-story buildings and is 88% occupied, according to Rob Fuelling, senior vice president of IDS.

“We see an opportunity to add value to key elements of the center,” says Fuelling. “Quality shopping centers are demonstrating increased demand today. La Canada Flintridge Town Center is a class A development in a well-established community with great demographics.”