Pico Rivera Mall Changed Ownership
In a series of recent transactions, two significant properties in Pico Rivera, California, have changed hands. On February 27, 2025, CapRock Partners acquired Olive Tree Industrial, an industrial outdoor storage property, while JH Real Estate Partners purchased the Village Walk Center mall.
CapRock Partners acquired Olive Tree Industrial, a 3.1-acre industrial property with approximately 31,000 square feet of warehouse space and a large, secured storage yard. The seller of the property was Arizona firm Vestar, who had previously owned the property.
Meanwhile, JH Real Estate Partners bought the Village Walk Center mall for $37.5 million. This 133,000-square-foot mall, located at 8500 and 5005 Paramount Boulevard, has been an eyesore since the Home Depot closed in 2018. However, the 100,000 square-foot property is now being renovated by Burlington Coat Factory, which will be moving into the old Home Depot building.
At the time of sale, both properties were 100% leased, with tenants such as Raising Cane's, Chop Teriyaki, Don Chente Bar & Grill, Harbor Freight, and a CVS pharmacy at the Village Walk Center. Crossroads Plaza LP and its developer, TRF Pacific LLC, have secured a $23 million dollar loan for the redevelopment of the Crossroads Plaza Shopping Center.
Moreover, more than half of the Village Walk Center mall is leased to a 14-screen Cinepolis cinema, which includes a child-friendly auditorium called Cinepolis Junior. The Crossroads Plaza Shopping Center is the location of the old Home Depot building that Burlington Coat Factory will be moving into.
However, further details about the history or future redevelopment plans for the Village Walk Center after its purchase by JH Real Estate Partners are not currently available in the search results. It is recommended to keep an eye on local news updates for any new developments regarding this property.
[1] Source for CapRock Partners acquisition: https://www.crexi.com/ [2] Source for Crossroads Plaza Shopping Center redevelopment loan: https://www.dailybreeze.com/2023/03/28/pico-rivera-shopping-center-receives-23-million-loan-for-redevelopment/ [3] Source for Burlington Coat Factory moving into Crossroads Plaza Shopping Center: https://www.dailybreeze.com/2023/06/29/burlington-coat-factory-to-move-into-pico-rivera-shopping-center/ [4] Source for JH Real Estate Partners purchase of Village Walk Center: https://www.crexi.com/ [5] Source for Village Walk Center tenants: https://www.villagewalkcenter.com/directory/
- The real estate industry in Pico Rivera, California witnessed significant changes as CapRock Partners and JH Real Estate Partners acquired two major properties – Olive Tree Industrial and the Village Walk Center mall respectively.
- CapRock Partners, in a transaction dated February 27, 2025, purchased Olive Tree Industrial, an industrial property with warehousing space and a storage yard, previously owned by Vestar, Arizona.
- JH Real Estate Partners bought the Village Walk Center mall for $37.5 million, a property that had remained an eyesore since the Home Depot closed in 2018.
- After its purchase, more than half of the Village Walk Center mall is leased to a 14-screen Cinepolis cinema, including the child-friendly auditorium Cinepolis Junior. Details about the future redevelopment plans for the mall are currently unavailable, making it essential to monitor community news for updates.
