Westar Associates, which has owned, leased, and managed the property for the last 40 years through its affiliated companies, chose brokerage representatives Pete Bethea, Rob Ippolito, and Glen Rudy of Newmark to oversee the transaction. The sale attracted multiple offers, with Phillips Edison and Company, Inc., one of the nation’s largest owners and operators of grocery-anchored shopping centers, ultimately selected as the buyer.
“We are proud of the significant role Foothill Park Plaza has played in Monrovia for the past 40 years,” said Jud Dutrisac, Chief Operating Officer of Westar Associates. “This sale marks the end of an era for us, but we are confident that Phillips Edison, with their extensive experience in the industry, will continue to foster the success of the center and its tenants.”
Foothill Park Plaza, situated in the heart of Monrovia, has long been a neighborhood hub, offering essential retail services and a diverse range of dining and shopping options for local residents. The center’s strategic location and solid tenant mix have made it a key player in the area’s retail landscape.
The transaction marks a successful conclusion to Westar Associates’ ownership and management of the property, while also paving the way for Phillips Edison to further enhance the shopping center’s role within the community.
For media inquiries, please contact:
Ally Green
Vice President of Marketing, Westar Associates
ally@westar1.com / 714-241-0400
