Family trust buys La Verne Courtyard.

Pasadena Star News
www.pasadenastarnews.com

LA VERNE - A private family trust has purchased La Verne Courtyard, an 85,036- square-foot retail center in La Verne. The transaction was valued at $16 million.

La Verne Courtyard is located at the southwest corner of Foothill Boulevard and White Avenue less than one mile south of the new extension of the Foothill (210) Freeway.

The center, which is 100-percent leased, is anchored by Orchard Supply Hardware and Office Depot. The asset was sold by Steadfast Properties of Newport Beach. The buyer was in a 1031 exchange and assumed the existing loan.

Dixie Walker and Charley Simpson of Grubb & Ellis' Newport Beach office represented the seller in the transaction. The buyer represented itself.

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