Evergreen Development Company, with offices in California, Arizona, Colorado and Utah, announced today that it has completed the sale of its restaurant-focused retail project shadow-anchored by Costco, located at 1054 W. Gladstone Street in San Dimas, Calif. Financial details of the transaction were not disclosed.
“San Dimas is a tremendous City that is under-served by quality restaurants and ever since we acquired the property, we knew our project had tremendous potential for the San Dimas community,” said Chris Bergren, Principal of Evergreen Development. “Area residents now have an enhanced shopping experience with a wide selection of reputable and popular dining options to choose from.”
The retail development site, that’s only three miles away from Raging Waters waterpark, was 100 percent leased at the time of the sale and consists of two multi-tenant buildings, totaling 18,872 square feet. Shadow-anchored by a strong-performing Costco, the two buildings that Evergreen sold include a Panera Bread, Five Guys, Jimmy John’s, Krispy Kreme, Nekter Juice Bar, Waba Grill, Café Rio, Dickey’s Barbecue Pit, Wells Fargo (ATM) and Kaya Beauty.
Evergreen purchased the 2.8-acre property in December 2014, broke ground in July 2015 and was fully leased by July 2016.