A Chinese company bought a prime piece of real estate at the Promenade mall.
The company, Faris Lee Investments, sold the property on Ynez Road to SZ Prosperity Investment, a Chinese private capital real estate holding firm, for $5.65 million, which was just a few dollars less than the asking price, according to an announcement.
The property includes the , , and Pacific Pita. The buyer, which was an office in Rowland Heights, paid cash, according to the report.
The downed U.S. economy and depressed value of the dollar makes buying properties in the states an attractive investment, according to Jeff Conover, a Faris Lee broker.