Phillips Edison pockets another San Gabriel Valley shopping center

Another Southern California shopping center has traded hands.  Phillips Edison & Company paid roughly $25.8 million for the retail plaza at 312 South California Avenue in West Covina, Commercial Observer reported. The Ohio-based retail-focused real estate investment trust acquired the 46,800-square-foot property from Golden East Investors.  The price works out to $511 per square foot. The shopping center was 88 percent occupied at the time of sale. Tenants include Bank of America, California Fish Grill and America’s Best Contacts & Eyeglasses. The property is across South California Avenue from Pacific Retail Capital Partners’ Plaza West Covina mall, anchored by tenants […]This article originally appeared on The Real Deal. Click here to read the full story.