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Invesco Real Estate Scoops Shopping Center

COMPTON, CA—The Dallas-based institutional investor buys the second phase of the Gateway Towne Centre in a steeply competitive sale that drew multiple offers.

By Kelsi Maree Borland | Updated on February 18, 2015

COMPTON, CA—Invesco Real Estate has purchased the second phase of the Gateway Towne Centre from Prism, the developer who built the property. The purchase price and transaction terms were not disclosed, however, sources unrelated to the deal say the purchase price was approximately $27 million. The sale of the property drew high interest from local and institutional buyers, garnering multiple offers.

“It is not very often that you’ll have something on the market with this many credit tenants,” Michelle Schierberl, an SVP at Colliers International, tells GlobeSt.com. “Usually, there would be a lot more mom-and-pops, but this was national and regional players. Some of the players were concerned about the Compton market because of the historical issues, but the prospective buyers were really shocked when they got to the property and saw that the center is as nice as anything you would see in Irvine,” Schierberl represented the seller in the transaction along with Colliers International SVP Donald Ellis.

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