Savills Studley Negotiates Sale of Leasehold Interest for Hastings Ranch Shopping Center in Pasadena, California

07 March 2017

Savills Studley’s National Retail Services Group successfully disposed of the leasehold interest for Hastings Ranch Shopping Center located at 3801 E. Foothill Boulevard in Pasadena, California. The property sold for $29.5 million in an all-cash transaction and was 100-percent occupied at the time of the sale. 

The seller, Hastings Ranch Shopping Center, L.P., is a private real estate company and the buyer, Federal Realty Investment Trust, is a publically traded REIT.

Bill Bauman, executive vice president, and Kyle Miller, senior managing director, of Savills Studley’s National Retail Services Group represented the seller in the transaction, along with Mike Grannis of Highland Partners.  

“The seller owned the property for more than 10 years and did an outstanding job of redeveloping the shopping center and upgrading the tenant mix,” said Miller. 

Hastings Ranch is a premier regional shopping center featuring 273,581 square feet of retail space currently leased to such notable tenants as Sears, Marshall’s, CVS, Panda Express, Corner Bakery and One West Bank.

Savills Studley’s National Retail Services Group successfully disposed of the leasehold interest for Hastings Ranch Shopping Center located at 3801 E. Foothill Boulevard in Pasadena, California. The property sold for $29.5 million in an all-cash transaction and was 100-percent occupied at the time of the sale.

 

The seller, Hastings Ranch Shopping Center, L.P., is a private real estate company and the buyer, Federal Realty Investment Trust, is a publically traded REIT.

 

Bill Bauman, executive vice president, and Kyle Miller, senior managing director, of Savills Studley’s National Retail Services Group represented the seller in the transaction, along with Mike Grannis of Highland Partners.  

 

“The seller owned the property for more than 10 years and did an outstanding job of redeveloping the shopping center and upgrading the tenant mix,” said Miller.

 

Hastings Ranch is a premier regional shopping center featuring 273,581 square feet of retail space currently leased to such notable tenants as Sears, Marshall’s, CVS, Panda Express, Corner Bakery and One West Bank.

 
 

General Enquiries

{0}