Marcus & Millichap Brokers $44.7 Million Sale of Shopping Center in Downtown Los Angeles

Los Angeles — Marcus & Millichap has arranged the $44.7 million sale of Washington Plaza, a grocery-anchored retail property located in downtown Los Angeles. The 136,908-square-foot center was fully occupied at the time of sale by tenants including 99 Cents Only, Rite Aid, DaVita Dialysis, Ace Cash Express, Dunkin’, Baskin Robbins, WaBa Grill, El Pollo Loco, T-Mobile, Panda Express and Boost Mobile. Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Millichap represented the seller, Eagles Nest Property LLC, and procured the buyer, Reliable Properties, in the transaction.