While many retailers are exiting storefront properties, certain types of shopping centers remain in high demand for property management companies.

Safco Capital Corporation has acquired a fully-occupied retail complex in South Gate, anchored by an Aldi discount supermarket, for $29.5 million. Orange County-based Hanley Investment Group represented both buyer and seller, Catellus Development Corp. of Oakland.

“There is high demand for newly built, grocery-anchored neighborhood centers in dense, infill markets,” said Ed Hanley, president of Hanley Investment Group, in a statement March 25.

The 53,262-square-foot Firestone @ Crossroads shopping plaza was built in 2017 along the 5800 block of Firestone Boulevard. Tenants include Aldi, AT&T, Bank of America, a carwash, several eateries and a Sherwin-Williams.

David Swartz of Crosbie Gilner Schiffman Southard & Swanson LLP provided legal counsel for the buyer and is based in Los Angeles.

Hanley has sold four of the six Aldi-anchored shopping centers that traded hands in Southern California in the last 18 months for a total of $89 million, according to the group.

Manufacturing, retail and trade reporter Rachel Uranga can be reached at [email protected] or (323) 549-5225 ext. 251. Follow her on Twitter @racheluranga