An investor has hired a brokerage firm to market Alhambra Place on Main Street, which has been vacant since 2009. Wilson Commercial Real Estate has been retained by an unnamed East Coast investor to promote the former Mervyn's site. The firm claims that in the past 12 months to have leased over 1.3 million square feet — including Nordstrom Rack, LA Fitness, and Chase Bank — across Southern California. The press release from the company follows.
ALHAMBRA, CALIF., MAR. 6, 2012 – Wilson Commercial Real Estate, one of Southern California’s leading retail brokerage firms, has been exclusively retained by East Coast-based institutional investor to market Alhambra Place, a 10.1-acre retail site at Main Street and Garfield Avenue in the San Gabriel Valley submarket of Alhambra, Calif. The five parcel, 180,875-square-foot site provides many size and configuration options for attracting new tenants including traditional anchor and junior box space, street front shops, courtyard retail, and pads.
Wilson Commercial Real Estate's team of Senior Vice President Geoff Tranchina and Senior Associate Jason Gribin are overseeing the marketing of the premier property.
"This is a rare opportunities for an investor to acquire a value-added property in a thriving area of Southern California," said Tranchina. "This investment provides the new owner with a multitude of options from repositioning with new tenants to re-entitling the project for greater density with a mix of uses."
Alhambra Place is located approximately eight miles northeast of Downtown Los Angeles, in the densely populated San Gabriel Valley. The property features immediate access to the San Bernardino Freeway (I-10) and Long Beach Freeway (I-710) providing convenient access to Downtown Los Angeles and multiple surrounding communities including South Pasadena, San Marino, San Gabriel and Monterey Park. Alhambra Place draws from a large and diverse population with more than 272,000 residents and a heavily trafficked intersection averaging approximately 50,000 vehicles per day.
About Wilson Commercial Real Estate
Founded in 1990, Wilson Commercial Real Estate has leased and sold over 10 million square feet of retail space with an aggregate consideration of over $1.5 billion. The company currently represents 9 million square feet of retail space in 85 shopping centers throughout Southern California. In the past 12 months, the company has leased over 1.3 million sf including leases with Dollar Tree, Buy Buy Baby, Burlington Coat Factory, Hobby Lobby, Nordstrom Rack, LA Fitness, 24 Hour Fitness, Pacific Sales, Dicks Sporting Goods, Michaels, Sprouts, Petco, Home Goods, Goodwill Industries and Chase Bank. In 2008, Wilson Commercial Real Estate expanded their services to include tenant representation and formed an Investment Sales Group that provides a complete range of investment sales services for our clients' acquisition and disposition requirements. For more information, please visit www.wcre.net.