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Best Plaza Sells for $61.8M in Cerritos

Retail Developer Acquires 357,000-SF Power Center
February 19, 2014
CenterCal Properties LLC, a retail development company, acquired Cerritos Best Plaza at 11101-11263 183rd St. in Cerritos, CA for $61.8 million, or about $173 per square foot, from HR Barros Family LP.

Built in 1978 and renovated in 2002, the retail power center totals 357,240 square feet on 34 acres. The property was 85 percent leased at the time of sale to several tenants including Burlington Coat Factory, Big Lots, Guitar Center, and Easy Life Furniture.

Deborah Collins of The Collins Company represented the seller. Geoff Tranchina and Jason Gribin of Wilson Commercial Real Estate, Inc. represented the buyer.

Please refer to CoStar COMPS #2951061 for more information on this transaction.
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