$941 thousand per square foot on sale
By Dolores Quintana
The former Fox Hills Plaza Mall has finally been sold to a new buyer for $56 million as reported by The Real Deal.com.
A division of company M.C. Strauss was the seller and the property, at 6221-99 Bristol Plaza Parkway, and the property was purchased by Henry Shahery’s Bristol Parkway Propco. Judging by the name of the company, it sounds like the company’s main purpose is the purchase and possible development of this specific property. The sale was originally reported by The Los Angeles Business Journal.
The deal was off-market and the purchase price and cost Bristol Parkway Propco $941 thousand per square foot.
To show how much prices have increased throughout the years, M.C. Strauss originally bought the property for $2 million dollars in 1976 and has held onto the property, running the mall on the site for decades before its closure. The sale was one that took a lot of time and effort to close as escrow reportedly began in 2016.
