De Pietro Holdings LLC Sells West Covina Medical and Mixed-Use Office Buildings
West Covina – Los Angeles based De Pietro Holdings LLC has sold a property containing a medical office building and a mixed-use office building in West Covina, California.
A private buyer purchased the property at 1539 West Garvey North and 1543 West Garvey North. The property was 100 percent leased at the time of sale. The buyer will manage the property moving forward.
In the early 1950s, Frank and Frances De Pietro purchased 11 acres of former agricultural land in West Covina, which they subsequently subdivided and developed with multifamily and commercial buildings. 1539 and 1543 West Garvey North were constructed in 1962 and updated several times since. These two buildings were the last remaining portion of Frank and Frances De Pietro’s original investment that remained in family ownership by De Pietro Holdings LLC, the successor to Frank De Pietro and Sons.
“This sale concludes a special chapter of our company’s history that began with our parents, Frank and Frances De Pietro, when they purchased the acreage in West Covina,” said Robert De Pietro, partner at De Pietro Holdings LLC. “The West Covina property remains an important part of our past and a reminder of our commitment to our tenants.”
CBRE brokers Gary Stache, Mark Shaffer, Anthony DeLorenzo, Damon Feldmeth and Jackie Benavidez represented De Pietro Holdings LLC.
“Having worked with CBRE for years as they represented our leasing interests, we were glad to partner with them to find the right buyer to serve the property’s tenants and ensure its continued legacy,” added Althea De Pietro, partner at De Pietro Holdings LLC.
About De Pietro Holdings LLC
De Pietro Holdings LLC is a privately held commercial real estate investment company that has grown to own approximately 630,000 square feet of office, industrial, medical office, R&D, and retail properties across 16 cities and four states. The Company has remained a family run and operated organization that focuses on developing long term business relationships and practical and creative solutions that satisfy tenant requirements now and in the future. De Pietro Holdings LLC’s properties are primarily located in Southern California and the greater Phoenix, AZ , Denver, CO, Colorado Springs, CO and Salt Lake City, UT areas.