Albanese Cormier Holdings celebrates expanding presence into California with acquisition of Lassen Shopping Center

BEAUMONT, TEXAS – Albanese Cormier Holdings is pleased to announce the acquisition of 2545 Main St., a high-performing retail center in Susanville, CA that was 93% leased at the time of sale. The seller, Phillips Edison Company, was represented by CBRE while Hanley Investment Group’s Eric Wohl represented ACH as the buyer.

2545 Main St. is a ±79,187-square-foot multi-tenant retail community center, currently leased to a mix of 14 nationally and regionally recognized retail, restaurant and service retail tenants that include Aaron’s, Anytime Fitness, Big 5 Sporting Goods, the California DMV, Dollar Tree, Ross Dress for Less, and Verizon Wireless among others.

THE PROPERTY IS IDEALLY LOCATED ALONG HIGHWAY 36/U.S. 95 TO RENO, REPRESENTING A MAJOR PORTION OF DOWNTOWN SUSANVILLE, THE COUNTY SEAT OF LASSEN.

Mike Albanese of ACH said, “Lassen Shopping Center represented a rare opportunity to acquire a high-performing, nationally-anchored shopping center with limited competition and value-add opportunity.”

 

ALBANESE CORMIER HOLDINGS

Albanese Cormier Holdings is a Southeast Texas commercial real estate investment company currently holding roughly 5 million square feet in 75 strategically placed assets throughout 23 states. For more information about our company or on any other property within the ACH portfolio, please visit www.ach-us.com  or contact the main office at (409) 892-0200.