REBusinessOnline

CalBay Buys 29,000 SF Retail Redevelopment Site in California for $2.1M

MONROVIA, CALIF. — CalBay Development has completed the acquisition and entitlement of a redevelopment site located on West Huntington Drive in Monrovia. McMahans Furniture sold the site for $2.1 million. The 29,000-square-foot site is comprised of two parcels and features a 21,000-square-foot retail store occupied by 3-Day-Suit Broker. CalBay plans to develop a freestanding 2,200-square-foot Starbucks drive-thru on the site. Construction is slated to begin in third-quarter 2018, with store opening scheduled for second-quarter 2019. The City of Monrovia Planning Commission approved the company’s development plans in earlier this year. Adam Fisher of JLL arranged the off-market transaction.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Western Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews