SOUTH PASADENA AND CLOVERDALE, CALIF. — Colliers International has arranged two sales of retail properties located in Sonoma and Los Angeles counties totaling $12 million.
In the first deal, Guillermo Olaiz and John Archibald of Colliers represented a family trust in the $5.3 million sale of a corner lot located at 815 Freemont Ave. in South Pasadena. The property is short-term leased to Carrow’s Restaurant. The buyer was a San Gabriel Valley-based builder.
In the second transaction, the family trust purchased a single-tenant, net-leased retail property located in Cloverdale for $6.7 million. Grocery Outlet, a regional discount grocer, occupies the 15,756-square-foot property.
Olaiz and Archibald of Colliers represented the family trust in this 1031 exchange transaction.