Los Angeles, CA –– NAI Capital Commercial is pleased to announce that Senior Vice President Irwin Hyman and Vice President Jesse Paster with NAI Capital Commercial’s Retail Services Group negotiated the acquisition of a 4,353 square foot restaurant building in Alhambra, California. Irwin and Jesse represented the buyer, a family trust, in the transaction. Newmark represented the seller. The sale price totaled $3,525,000 or $810 per square foot.
The property is located at 201 W. Main Street, in the West San Gabriel Valley. Built in 1964, the free-standing restaurant is situated in the center of Alhambra’s Main Street trade area. It is in an energetic pedestrian oriented area, on the corner of W. Main and N. 2nd Street with a huge parking lot. Diner on Main, an American 50’s themed restaurant, is the tenant. The diner was designed by the famed architectural firm Armet & Davis. The restaurant features chrome and Formica with canvases of Marylyn Monroe and James Dean.
Jesse said, “This is an outstanding restaurant location in a densely populated area of downtown Alhambra on Main Street. The buyers are franchisees with several restaurant operations and appreciate the value of this location as a solid investment.”
“This off-market deal wouldn’t have been uncovered without our network and relationships. The buyers are extremely pleased to add this asset to their portfolio,” added Irwin.
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee-owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,000 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.
