Press Release brought to you by NAI Global

NAI Capital Completes Sale of Supermarket Site in Monrovia to 723 EHD, LLC

03/29/2016

                                  

NAI Capital Completes Sale of Supermarket Site in Monrovia to 723 EHD, LLC

 

Monrovia, CA, Monday, March 21, 2016– Executive Vice President Scott Martin and Senior Vice President James Houghton with NAI Capital represented the buyer 723 EHD, LLC on the sale of a 97,497 square foot mostly vacant retail supermarket site. The sale price was undisclosed.

 

The property, known as Shamrock Center, is located at 723-727 E Huntington Dr. Monrovia, CA. The project was 90% vacant at the time of the sale with O'Reilly Auto Parts as the remaining tenant. The supermarket neighborhood center situated on 6.07 acres of land at E Huntington Dr. & S Shamrock Avenue is in a prime location along the Hi-Tech Corridor of Huntington Drive within the city of Monrovia with easy access to the 210 freeway and a two minute drive from Mount Sierra College. The Masonry building was constructed in 1972 and was originally built for Kmart.

 

The area boasts excellent demographics of over 20,741 people within a 1-mile radius with an average household income of over $56,459 per year. The three-mile population shows 100,870 people with an average household income of over $70,471.

 

Martin said, “This was originally built for Kmart, when I was a kid, I used to visit the site. For the most part the center had 90K of vacant space and O’Reilly Auto parts.  Our Buyer has a few tenants in toe coming into the purchase.”

 

“This investment provides great potential for long term appreciation and once leased, cash flow,” said Houghton.

 

 

About NAI Capital

NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. NAI Capital provides a complete range of transaction, valuation, consulting, investment, and property management services. NAI Capital is one of the largest members of NAI Global, the leading independent real estate service network with 375 offices and 6,700 market leaders spanning the globe. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, corporate occupants and investors throughout Southern California. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.

 

NAI Capital Brokerage CA BRE #00806840.

To learn more, visit www.naicapital.com 

 

About NAI Global

 

NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

 

NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.  

 

To learn more, visit www.naiglobal.com.

 

Press Contact:

J.C. Casillas

818.913.2433

jcasillas@naicapital.com

Source

NAI Global

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