Longpoint has announced the acquisition of Cardenas Marketplace, a shopping center in Montclair, Calif., for $22.7 million. The property presented a unique opportunity for Longpoint to acquire a newly built specialty grocery-anchored shopping center in a densely populated and rapidly growing Los Angeles County neighborhood. CBRE represented the buyer in the transaction.
Completed in 2020, Cardenas Marketplace is 91 percent occupied and anchored by Cardenas Market, a leading specialty grocer providing fresh and authentic Hispanic fare, with other notable tenants including AT&T and Wendy’s.
“We always aim to stay true to our motto of ‘Welcome to the Neighborhood,’ or ‘Bienvenidos a Nuestro Barrio,’ by pursuing culturally relevant shopping centers focused on the evolving needs and demographics of the community, and Cardenas Marketplace presented a compelling opportunity to acquire a supremely well-located grocery-anchored shopping center at the heart of a
