Diamond Hills Plaza Sells for $48 Million

by Nate Hunter

Diamond Bar, Calif. — The 139,314-square-foot center is anchored by an Asian supermarket chain.

Diamond Bar, Calif. — Retail Opportunity Investments Corp. has purchased the 139,314-square-foot Diamond Hills Plaza, a grocery- and drug-anchored neighborhood center in Diamond Bar, for $48 million. The center is 99.4 percent leased to tenants including Asian supermarket chain Super H-Mart, Rite-Aid Pharmacy, Starbucks, Burger King, KFC, HSBC Bank, Pacific Dental and Flame Broiler. Dixie Walker, Charley Simpson and Tom Blake of Cassidy Turley represented the seller, Country Hills Holdings LLC, in the transaction.

“The property has very strong fundamentals and a dedicated customer base. And with institutional players on both sides of the deal, it indicates that top-quality ethnic grocery-anchored centers are coming into their own as targets for institutional capital,” says Dixie Walker, senior vice president of Cassidy Turley.

You may also like