One of La Cañada Flintridge’s longest lasting commercial developments has changed hands. The shopping center on Foothill Boulevard at Ocean View Boulevard, dominated by a Big Lots! store, was sold by Paneno Brothers LLC on June 28th to GTR Realty LP of Houston.
Nancy Cao, co-owner of GTR Realty LP with her daughter, Cong Wang, said that her commercial property management company has been operating in Houston for 10 years, but that she was ready to get out of the humidity and heat. After coming through Los Angeles on her way to Hong Kong and China several times, Cao decided to move and purchased a house in La Cañada Flintridge in 2007.
“I find the Los Angeles weather is better, so I purchase the house first,” said Cao. “And this year I find [the] commercial center in La Cañada, so I think this is a chance I can move the business maybe.”