Press Releases
Marcus & Millichap Arranges $13M Sale of Hacienda Village Retail Center in Hacienda Heights, California
August 03, 2026
HACIENDA HEIGHTS, Calif., July 31, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2029 S Hacienda Blvd, a 23,645 square-foot shopping center in Hacienda Heights, California. The property sold for $13 million or $549.80 per square-foot.
“Despite geopolitical uncertainty and elevated interest rates, we generated multiple competitive offers within 30 days and secured a buyer who closed at a 5.88 percent cap rate and 98 percent of the asking price,” said Ron Duong, senior managing director investments. “The transaction reflects the continued strength of the San Gabriel Valley retail market, where healthy tenant demand and limited supply continue to attract investor interest. The buyer plans to maintain the property's established tenant base while growing rental income over time.”
Duong, in Marcus & Millichap’s Orange County office, had the exclusive listing to market the property on behalf of the seller, an Orange County based private partnership. The buyer was a Los Angeles-based private investor.
Built in 1963, the 23,645-square-foot shopping center is situated on a 1.59-acre corner parcel at 2029 S. Hacienda Blvd. The 17-suite property is located along South Hacienda Boulevard near the 60 Freeway, providing visibility and access within one of Hacienda Heights' primary retail corridors. The shopping center is occupied by a mix of restaurant, service and neighborhood retail tenants. Its location near the Rowland Heights and City of Industry employment centers supports long-term retail demand.
“Despite geopolitical uncertainty and elevated interest rates, we generated multiple competitive offers within 30 days and secured a buyer who closed at a 5.88 percent cap rate and 98 percent of the asking price,” said Ron Duong, senior managing director investments. “The transaction reflects the continued strength of the San Gabriel Valley retail market, where healthy tenant demand and limited supply continue to attract investor interest. The buyer plans to maintain the property's established tenant base while growing rental income over time.”
Duong, in Marcus & Millichap’s Orange County office, had the exclusive listing to market the property on behalf of the seller, an Orange County based private partnership. The buyer was a Los Angeles-based private investor.
Built in 1963, the 23,645-square-foot shopping center is situated on a 1.59-acre corner parcel at 2029 S. Hacienda Blvd. The 17-suite property is located along South Hacienda Boulevard near the 60 Freeway, providing visibility and access within one of Hacienda Heights' primary retail corridors. The shopping center is occupied by a mix of restaurant, service and neighborhood retail tenants. Its location near the Rowland Heights and City of Industry employment centers supports long-term retail demand.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
