HUNTINGTON PARK, CALIF. — Stan Johnson Co. has brokered the purchase of a freestanding retail property located at 5731 Bickett St. in Huntington Park, just southeast of downtown Los Angeles. A New York-based private investor acquired the asset for $48.7 million. Principal Life provided acquisition financing.
Developer Shane Cos. is slated to complete the 56,000-square-foot building in January 2023. Target has leased the property under a long-term, triple-net lease. Situated on 4.1 acres, the site will feature a Starbucks Coffee, Tesla charging station and an urban-format Target.
Jason Maier of Stan Johnson Co. represented the buyer, while Alvin Mansour of The Mansour Group at Marcus & Millichap represented the undisclosed seller in the transaction.