Kensington Diamond Bar, an affiliate of Tustin-based Kensington Real Estate Group, closed escrow on the sale of two retail buildings in Diamond Bar, Calif.
The buildings are at Diamond Bar Village Center, located at the northwest corner of Diamond Bar Boulevard and Golden Springs Drive. The property is a 103,000-square-foot mixed-use retail/office project located along a commercial corridor in Diamond Bar.
The two multi-tenant retail strip buildings encompass 29,740 square feet on 2.45 acres. The purchase price was $6.3 million.
The buildings were 100 percent occupied at close of escrow. Tenants include Mandarin Taste Restaurant, Nextel and the offices of Sen. Bob Margett.
Steven Hogberg and Matt Hammond of Coreland Cos. represented the seller in both sales transactions. Stephanie Liang of Century 21 E-N Realty of Diamond Bar represented the buyer in both sales transactions. Coreland Companies is the exclusive agent for Diamond Bar Village Center and responsible for the leasing, sales and management.
Kensington Real Estate Group of Tustin has acquired $150 million of retail, office and multi-tenant industrial property since inception in 1999.
Tustin, Calif.-based Coreland is a commercial real estate company with a current portfolio of more than 100 properties and 13 million square feet.
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