Decron Properties Sells Food 4 Less in Hawaiian Gardens for $14 million

By DANIEL MILLER - 3/31/2008
Los Angeles Business Journal Staff

The building and land that houses a Food 4 Less store in Hawaiian Gardens has changed hands in a $14 million all-cash deal.

Park City Main Street Mall LLC, the entity of an unnamed L.A.-area family trust, purchased the 58,944-square-foot store and 4.9-acre property Jan. 31 on a 1031 tax-deferred exchange basis from local real estate developer Decron Properties Corp.

Kroger Co., which owns Food 4 Less, is locked into a lease at the 12254 Carson St. property until 2021.

Dixie Walker, the Grubb & Ellis Co. broker who represented the seller, said that despite the slow real estate market, 1031 exchange deals are getting done at a healthy rate.

Peter Spragg of Grubb & Ellis also represented the seller and Fouy Ly of Sperry Van Ness represented the buyer.
Staff reporter Daniel Miller can be reached at dmiller@labusinessjournal.com or (323) 549-5225, ext. 263.