LA PALMA AND LA HABRA, CALIF. — DMI Real Estate Group has completed the dispositions of two shopping centers — La Palma Collection and The Row on Harbor — for a combined $25.5 million.
Joseph Lising of Cushman & Wakefield’s Southern California retail team, along with Daniel Sydor of Cushman & Wakefield’s Valuation & Advisory Services, represented and advised DMI in the dispositions.
Located at 7811-7971 Valley View St. in La Palma, La Palma Collection features 23,882 square feet of multi-tenant retail space. A private 1031 exchange buyer acquired the asset for $13 million. Ron Duong of Marcus & Millichap represented the buyer in the deal.
The Row on Harbor, located at 1450-1478 S. Harbor Blvd. in La Habra, features 23,314 square feet of retail space. At the time of sale, the property was fully leased to 14 tenants, including EggBred, AkaFuji, Furai Chicken, Bodhi Leaf Coffee Traders, Code Ninjas and Club Pilates. A 1031 all-cash buyer acquired the property for $12.5 million.