VISALIA, CALIF. – Trion Properties, a Los Angeles-based real estate investment company, has sold a 57,254-square-foot shopping center located at 3230-3298 S. Mooney Blvd. in Visalia to a family trust for $4 million, or roughly $70 per square foot.Trion Properties acquired a nonperforming note on the asset in 2012 in an all-cash transaction from a regional bank, which had to remove it from their books by year-end. Nick Whitstone at CBRE handled the note transaction. The property reverted to Trion in a foreclosure sale on February 4, and Trion immediately listed the property for sale with Mark Denholm from CORE Commercial, who represented Trion in the disposition. The property, which was built in 1977, was approximately 60 percent leased at the time of the sale with a tenant roster that includes King Buffet and Tuesday Morning.
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