March 30, 2012
Written by Philippe Recto (precto@costar.com)
Urdang Associates sold the Hawaiian Gardens Towne Center in Hawaiian Gardens, CA, to HP Investors LLC for $11.6 million or $147 per square foot. The retail property was reported to be only about 37.5 percent occupied at the time of sale.
The shopping complex is 121,815 square feet but only 78,815 square feet was sold. An additional anchor tenant, Valu Plus Food, occupies about 43,000 square feet.
Kevin Fryman and Edward Hanley of Hanley Investment Group represented the buyer.
Please refer to CoStar COMPS #2277616 for more information.