Two Deals Better Than One
That headline is what Faris Lee's Dennis Vaccaro tells us about the combined $8.8M sale of La Habra Town Center, which sold as two pieces to two separate buyers. LH Property, repped by Roessler Investment Group's David Sternberg, bought the part of the property occupied by a Union Bank, while Elicelrena Group, repped by JK Group's Jason and Katie Min, bought a part occupied by Starbucks, Quiznos, and Cold Stone Creamery. (Objectively, Elicelrena has the more delicious deal.) Dennis, who repped the developer/seller, says thedeal was rewarding, despite complications that included "cross access agreements between properties, tenant/co-tenant relationships, use restrictions, and maintenance uniformity." (Nothing that couldn't be settled over an ice cream cone.)
Two editions of Bisnow are better than one, so read another one now. Send ideas and suggestions to [email protected]
