The sale of Center Point Plaza, a 28,924-square-foot retail property located at 33490-33492 Oak Glen Rd. in Yucaipa, was recently arranged by Marcus & Millichap for $10,800,000 or $373 per square foot.
Representing the seller partnership was the Ovaness-Rostamian Group from Marcus & Millichap’s Los Angeles office. The team consisted of Ivan Prochko and partners Orbell Ovaness and Ara Rostamian. On behalf of the buyer – a private investor – Bashir Tariq from Keller Williams Realty provided representation.
Prochko expressed pride in achieving premium results for their clients through this transaction on Oak Glen Rd., stating that it required creativity and problem-solving skills as well as deep market knowledge to turn this value-add opportunity into an exceptional asset during these challenging times.
Ovaness added that Center Point Plaza is not just any retail space; it serves as a vital community hub with its diverse mix of essential tenants catering to daily needs while providing stable income opportunities for investors. This successful sale demonstrates how valuable properties like this can be transformed into game-changing assets with expert management and understanding of market dynamics.
