Newport Beach-based JH Real Estate Partners acquired the 133,000-square-foot Village Walk Center in Pico Rivera from Vestar for $37.5 million. The retail center consists of five properties and is anchored by the Cinepolis movie theater, which occupies more than half of the shopping center.
The property was reportedly fully leased at the time of the sale. Other tenants include Harbor Freight Tools and a CVS Pharmacy.
The new ownership has a strong focus on retail centers primarily in California. It has developed and owns more than $1.5 billion since its inception in 1989.
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