MONTEBELLO, Calif. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, has completed the sale of a single-tenant net-lease retail investment occupied by LA Fitness in Montebello, California. The price could not be disclosed.
Built in 1988, the 42,946-square-foot building is situated on 3.07 acres at the signalized intersection of Beverly Boulevard and Wilcox Avenue at 2222 W. Beverly Boulevard in Montebello. The location has a 28-year operating history as a health club with LA Fitness taking over a former Bally’s and recently executing a new long-term lease extension.
The LA Fitness property is a part of the Beverly Wilcox Village Shopping Center, which includes Chase Bank, Popeyes, Subway and Western Dental, and offers convenient access via five points of ingress and egress along Beverly Boulevard and Wilcox Avenue. According to Asher, the shopping center has tremendous visibility with average daily traffic counts of 48,000 cars per day at the intersection of West Beverly Boulevard and North Wilcox Avenue.