Popular Local Shopping Center Changes Ownership

Lincoln Crossing, the shopping center on Lincoln Avenue just north of Woodbury Road in Altadena which is home to the Super King Market, is changing ownership hands.

The 43,108-square-foot shopping center has been sold to an unnamed private family trust for an undisclosed amount, according to RE Business Online. The building was built in 2006; it is just north of Pasadena city limits.

Tenants in the fully leased  43,108-square-foot shopping center include 24 Hour Fitness, Panda Express, Bank of America, and Subway.

Altadena Point notes “the long-in-planning shopping center has a complex ownership structure and has suffered from construction problems in the past, including inadequate sewers.”

The trust was represented by Martin Agnew and Jessica Kelley of Marcus & Millichap’s Encino office; the transaction’s financing was arranged by Sharone Sabar of MMCC’s Encino office.