GSUN Investments, Inc. acquired the 45,263-square-foot retail building at 8960 Central Ave. in Montclair, CA for $7.75 million, or about $171 per square foot, from Burnham USA Equities.
Built in 1998, the 45,263-square-foot, big-box retail building is part of the 75,000-square-foot Shoppes on Central retail center in the West San Bernardino County submarket. Best Buy will continue to occupy the entire building, with seven years remaining on its master lease.
The acquisition was funded in-part with a $5.04 million loan from Wells Fargo Bank NA.
Kyle Matthews, Patrick Toomey, and Aaron Cline of Colliers International teamed up with Scott Hook and George Felix of Coldwell Banker Commercial Alliance to represent the seller. Frank Kim of Fox Industrial Realty in Los Angeles represented the buyer.
Please see CoStar COMPS #2955096 for more information on this transaction.