Setting the Highest Price Per SF, Lee & Associates – Pasadena set the comps for retail in Monterey Park, CA
October 4, 2021 (Monterey Park, CA)
Lee & Associates – Pasadena Founding Principals, Christopher Larimore and Dan Bacani, successfully facilitated the sale of a 5,583 square foot, freestanding retail building located at 1950 S. Atlantic Blvd in the city of Monterey Park, California to a local hair salon owner. The building was formerly a pet supply store and suffered from prolonged vacancy.
This transaction sets a record for the highest price per square foot sold in the city of Monterey Park for a retail building larger than 1,500 square feet this year, 2021.
Located one block east from East LA College, this building benefits from incredible traffic visibility near the signalized intersection at Atlantic Blvd. and Brightwood St, which has a CPD count of 28,588. It has easy 60 and 710 freeway access and is centrally located among the city’s large retail power centers. The interior offers restrooms, open floor space, and outside features a large private parking lot, fully enclosed patio, marquee signage and alley access.
“This single-tenant, standalone retail property is ideal for business owners in need of limiting potential exposure to their customers and employees while still conducting business in our COVID-19 world,” explained Dan Bacani.
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Also published at:
|Christopher Larimore, Founding Principal
License ID 01314464
|Dan Bacani, Founding Principal
License ID 01385413
ABOUT LEE & ASSOCIATES
Lee & Associates – Pasadena is a full service commercial real estate company headquartered in Pasadena, CA. Our client-focused brokers specialize in office, retail, tenant advisory, multifamily, and investment sales. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, we are uniquely qualified to support our clients’ real estate needs in the local, national and international markets. For more information, visit lee-pasadena.com.