Huntington Oaks Center in Monrovia Acquired by Paragon Commercial Group

Huntington Oaks Center in Monrovia was acquired by Paragon Commercial Group for $79.4 million, or $293 per square foot. The grocery-anchored shopping center has a mix of local and national tenants that include Trader Joe’s, Kohl’s, Burlington and Marshall’s. Dining options include the vegan burger restaurant Hart House, which was founded by entertainer Kevin Hart.

The property was funded in part with a $55.9-million, five-year, fixed-rate loan from Gantry’s El Segundo office. The lender was represented by George Mitsanas, Braden Turnbull and Austin Ridge.

“There are many experienced sponsors and investors with significant equity on hand to transact in this phase of the cycle, and we expect to see the pace of investment sales increase into 2025. Retail has remained a strong performer post Covid. That has not gone unnoticed by our extensive roster of lenders, who continue to prioritize allocations to power center, grocery-anchored and neighborhood retail assets in both urban and suburban markets,” said George Mitsanas, Gantry principal, in a statement.