CBM1’s Aaron Guido + Daniel Barriga recently sold an 8,104 SF, 6-unit shopping center situated on an 18,731 SF lot fronting onto Anaheim Avenue at Lakme Avenue in Wilmington, less than 5 miles from the Port of Los Angeles. An investment group acquired the property as part of a growing investment portfolio in Los Angeles County’s Mid-Cities region.
“This deal was nearly a year in the making,” CBM1’s Aaron Guido says regarding the hurdles he and partner Daniel Barriga worked to overcome in closing their latest sale. “The owner prized their asset and understandably had high expectations. But with few retail properties trading in the area and scarce supporting sales comps, we faced a challenging proposition. Ultimately, we needed to find exactly the right buyer.”
Owing to patience, Guido and Barriga did precisely that: “The investment group [who represented themselves in the transaction] is building a portfolio in the area, and with an eye to long-term appreciation, they saw the property’s clear value.”
Moreover, Guido sees this as an untapped market, “Retail properties in the $2-$5-million-dollar range in LA and Orange County’s submarkets are a goldmine opportunity. And we’re actively seeking investors looking to buy or sell and capitalize on these prospects.”
For more information, contact Aaron Guido: Aaron@cbm1.com | 714.769.6117 or Daniel Barriga: Daniel@cbm1.com | 949.608.4886
###