Closed: El Faro Retail Center sells for $18.26M
In December 2003 Global CRE represented the seller of El Faro Retail Center, 125,600 SF in Los Angeles, which sold for $18,260,000 at a 10.11% cap.
Sources
Global CRE transaction records; public sale records
$18.26M
Sale price
10.11%
Cap rate
125,600 SF
Retail, 5.41 acres
The transaction
In December 2003, Global CRE represented the seller of El Faro Retail Center, a 125,600 SF retail property at 4433 S Alameda St in Los Angeles, which sold for $18,260,000, roughly $145 per SF, at a 10.11% cap rate. The center sits on 5.41 acres.
- Closed: December 2003.
- Seller representation: Global CRE.
- Buyer: El Faro Discount Center.
- Cap rate: 10.11%.
- Site: 5.41 acres.
Why it matters
Neighborhood retail on a large site along a major corridor gives an owner both income and long-term land value, which is why these centers are rarely offered.
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