Calbay Development Buys 26,000 SF Retail Property in Alhambra, California

ALHAMBRA, CALIF. — Manhattan Beach-based Calbay Development has purchased the fee interest in a freestanding retail building along Valley Boulevard in Alhambra. Terms of the transaction were not released.

Situated on 1.5 acres, Office Depot formerly occupied the 26,000-square-foot asset. The property also offers 98 parking stalls and prominent visibility and signage on Valley Boulevard.

Calbay acquired the property as a value-add opportunity and is in late-stage negotiations with a national retailer to lease the entire space.

Bill Asher and Jeff Lefko of Hanley Investment Group brokered the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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