Evergreen Development Completes Sale of Retail Property in San Dimas, California
PHOENIX – [May 25, 2017] – Evergreen Development Company, with offices in California, Arizona, Colorado and Utah, announced today that it has completed the sale of its restaurant-focused retail project shadow-anchored by Costco, located at 1054 W. Gladstone Street in San Dimas, Calif. Financial details of the transaction were not disclosed.
“San Dimas is a tremendous City that is under-served by quality restaurants and ever since we acquired the property, we knew our project had tremendous potential for the San Dimas community,” said Chris Bergren, Principal of Evergreen Development. “Area residents now have an enhanced shopping experience with a wide selection of reputable and popular dining options to choose from.”
The retail development site, that’s only three miles away from Raging Waters waterpark, was 100 percent leased at the time of the sale and consists of two multi-tenant buildings, totaling 18,872 square feet. Shadow-anchored by a strong-performing Costco, the two buildings that Evergreen sold include a Panera Bread, Five Guys, Jimmy John’s, Krispy Kreme, Nekter Juice Bar, Waba Grill, Café Rio, Dickey’s Barbecue Pit, Wells Fargo (ATM) and Kaya Beauty.
Evergreen purchased the 2.8-acre property in December 2014, broke ground in July 2015 and was fully leased by July 2016.
About Evergreen Development
Founded in 1974, Evergreen specializes in retail and multi-family development, tenant roll outs, project and construction management, property management, asset management, sustainable building and solving financing issues for various retailers and franchises. Working throughout the nation, Evergreen has earned a reputation as an industry leader by delivering high-quality real estate developments and services reliably, efficiently and cost effectively. The company has over 50 employees with offices in Arizona, California, Colorado and a newly opened office in Utah. Evergreen is currently engaged in the development of more than 60 retail and apartment projects and has completed more than 500 projects. www.evgre.com.