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NKF Completes $38.1 Million Sale of Buena Vista Marketplace, a 92,346-Square-Foot Retail Center in Duarte, CA

San Diego, CA (10/19/2017)

9:00 AM

Newmark Knight Frank (NKF) has completed the $38.1 million sale of Buena Vista Marketplace, a 98.5 percent occupied 92,346-square-foot grocery-anchored retail center in Duarte, CA.

NKF's Capital Markets retail division Executive Managing Director Pete Bethea, and Senior Managing Directors Rob Ippolito and Glenn Rudy represented the seller, Weingarten Realty. The buyer, Gerrity Group, was self-represented.

Built in 1990 and situated on 7.4 acres at 1155 to 1245 Huntington Drive, Buena Vista Marketplace features a new, state of the art Smart & Final Extra grocery store, Dollar Tree, Wells Fargo, AT&T, UPS, Subway, Flame Broiler and Jamba Juice, among other tenants.

"This property has been thriving over the years with 60 percent of its existing tenants calling it home since 1995," said Bethea. "Buena Vista Marketplace is not only well-maintained and in a key location, it also has been strategically tenanted with a variety of off-price retailers as well as services and restaurant options that are key to the vitality and longevity of shopping centers in today's competitive environment."

The City of Duarte is a small community located at the base of the San Gabriel Mountains, approximately 21miles northeast of Los Angeles and 10 miles from the City of Pasadena.

About Newmark Knight Frank
Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.