New Jersey-based BlackRock Realty sold three Los Angeles-area retail centers totaling 276,831 square feet for a combined price of $94.2 million.
In the first deal, Plaza de Hacienda, a 154,692-square-foot shopping center located at 1801 N. Hacienda Blvd. in La Puente, sold for $33.8 million to a Los Angeles-based private investor. The property, which was built in 1992 with additional phases added in 1995 and 2001, was 100 percent leased at the time of sale to tenants that included Food 4 Less, A.J. Wright and Big 5 Sporting Goods.
The remaining two properties, Gateway at Burbank and Creekside Place, were purchased by a Bellevue-Wash.-based private investor.
Gateway, a 74,391-square-foot retail center located at 25-113 W. Alameda Ave. in Burbank, sold for $37.6 million. Built in 1999, the property was 100 percent leased at the time of sale, and was anchored by Ralphs and CVS. Creekside Place, a 47,748-square-foot shopping center located at 23626-23630 Valencia Blvd. in Santa Clarita, sold for $22.8 million. Constructed in 1995, the property was 100 percent occupied at the time of sale, and was anchored by Barnes & Noble and Applebee’s.