Nestled in the vibrant community of Rowland Heights, California, Pearl Plaza is now on the market for $60 million (roughly $429 per square foot). This prime lifestyle and entertainment center, located at 18888 Labin Ct., represents a chance for investors to acquire a well-positioned asset in one of Southern California’s thriving commercial hubs.
Marketed by Mohit Uppal and Anthony Ying of SVN Advisory Group, Pearl Plaza is a standout in the competitive Los Angeles County real estate market. With its strategic location, established tenant mix, and significant potential for lease optimization, it offers a compelling value-added opportunity.
Built in 2012, Pearl Plaza spans 6.02 acres and boasts over 140,000 square feet of gross leasable area (GLA). The property includes a four-level parking garage, ensuring ample space for visitors and tenants. Currently, it has an 82 percent occupancy rate, with a diverse range of tenants, including popular restaurants, retail shops, service providers, and entertainment venues.
One of the center’s most valuable attributes is its location. Situated in Rowland Heights, a vibrant East Los Angeles County community, Pearl Plaza enjoys easy access to major highways, including the Pomona Freeway (SR 60) and the Orange Freeway (SR 57). Its proximity to dense residential neighborhoods and public transit ensures a steady flow of customers.
The property is currently operating under short-term gross leases, which offers investors the flexibility to transition to multi-tenant net or NNN leases, thereby boosting rental yields and long-term value.
Additionally, the plaza’s cultural appeal plays a key role in its success. Rowland Heights is known for its Asian-focused shopping centers, attracting visitors seeking authentic dining and shopping experiences. Pearl Plaza fits into this landscape, with offerings catering to the local Chinese and Korean communities and broader regional audiences. Investors can further enhance the center’s value by organizing community events, fostering partnerships with local businesses, and building on its reputation as a hub for cultural and economic activity.
Beyond its existing strengths, Pearl Plaza offers room for future development. Investors could explore opportunities to introduce mixed-use elements, such as additional retail, office, or even hospitality spaces, taking advantage of the area’s high-income demographics and increasing demand for diverse commercial offerings.
In 2024, suburban retail markets in Los Angeles County exhibited resilience amid evolving consumer behaviors and economic conditions. Vacancy rates in suburban areas remained relatively stable, with a slight increase to 5.7 percent as of June, reflecting a modest 20 basis point rise year-over-year, according to a report by Marcus & Millichap. Additionally, suburban retail centers benefited from the return of international visitors and positive office absorption trends, particularly in areas like Greater Downtown Los Angeles, where vacancy rates rose to 7.8 percent, indicating a shift in retail dynamics favoring suburban locales.
