Commercial Real Estate Market
In August, Westfield Santa Anita Mall was purchased by Riderwood USA Inc. for $537.5 million. Riderwood USA is owned by the Wen (William) Shan Chang family, who are based in the San Gabriel Valley and have miscellaneous retail holdings in the Los Angeles and Las Vegas areas. No other commercial property transactions were recorded in Arcadia this month. Commercial leasing activity in Arcadia was relatively light this month with the only commercial leases reported this month consisting of a lease renewal by West Coast Elite Gymnastics for the 18,320 square foot flex space at 900 S. Santa Anita Avenue and several new professional office leases signed at various locations around the city.