Covina deal.Sunflower Square Shopping Center in Covina, which is anchored by a Big Lots retail store, has changed hands. Ben Gentry Limited LLC purchased the center from Sunflower Square Shopping Center LLC for $6.875 million in a deal that closed Oct. 20. The 32,000-square-foot center, located at 20766 Arrow Highway, is on almost four acres of land. "Big Lots was the anchor tenant and most buyers were afraid of that, they didn't know how strong Big Lots was," said Cancienne, who represented both sides of the deal with Caster CASTER - Coded Aperture Survey Telescope for Energetic Radiation (NASA) CASTER - Cryptologic Analytic Support Terminal. "They are actually expanding all over and they are really strong right now. The buyer saw that." Caster said Covina is a market on the rise. "Rents are strengthening rapidly. It's an area in transition, especially in the last five to 10 years," Caster said. Staff reporter Daniel Miller can be reached at (323) 549-5225, ext. 263, or dmiller@labusinessjourmal.com. |
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