Amazon Fresh-leased Westside complex sells for $35M

Grocery store at 30K sf building opened in January; Red Mountain Retail Group was seller

Los Angeles /
Sep.September 27, 2021 03:24 PM
Amazon Fresh on Westside sells for $35M to family office

The Amazon Fresh store at 6855 La Cienega Boulevard from Red Mountain Retail Group and Michael H. Mugel (Red Mountain Group)

An Amazon Fresh-leased building on the Westside has sold for $35 million to a private family office.

M. David Family Holdings bought the 30,000-square-foot property at 6855 La Cienega Boulevard from Red Mountain Retail Group, according to Commercial Observer.
The grocery store, which sits on a sliver of land between Inglewood and Culver City, opened in January, according to a Red Mountain Retail press release.

The commercial strip also includes a Ralph’s grocery store, Marshalls department store, and several fast food restaurants. Red Mountain Retail recently sold a neighboring building leased to Chick-fil-A for $13.7 million.

Amazon launched the Amazon Fresh brand in Los Angeles in 2019 with a handful of stores, and quickly expanded to other cities.

Amazon’s website lists six stores in L.A. and two in Orange County, although the company signed leases for a dozen stores in L.A. as early as October 2019.

The Amazon Fresh brand is positioned as a more affordable option to Amazon’s pricier Whole Foods chain. It carries products found at most other conventional grocery stores.

Foot traffic to grocery stores declined during the pandemic, but the sector weathered the pandemic better than many other retailers, thanks in part to remaining open throughout wider retail closures.

Around half of companies operating grocery stores plan to expand their footprints this year, according to a RetailSphere survey covered by Commercial Observer.

[CO] — Dennis Lynch 





    Related Articles

    arrow_forward_ios
    From left: Amazon’s Andy Jassy and Innovo’s Andrew Chung along with a rendering of 2505 Bruckner Boulevard (Getty, Amazon, Innovo)
    Amazon takes 568K sf at Innovo, Square Mile’s Bronx industrial complex
    Amazon takes 568K sf at Innovo, Square Mile’s Bronx industrial complex
    Prologis CEO Hamid Moghadam and CFO Timothy Arndt (Prologis, Getty)
    Prologis CEO denies Amazon, FedEx industrial pullback
    Prologis CEO denies Amazon, FedEx industrial pullback
    Prologis CEO Hamid Moghadam and Amazon CEO Andy Jassy (Getty, Prologis)
    Warehouses are losing their heat
    Warehouses are losing their heat
    Falcon Properties' Florencia Masri and 1030 Sixth Avenue (Falcon Properties, Google Maps, Getty)
    Owner seeks $75M for dev site near Amazon’s Midtown office
    Owner seeks $75M for dev site near Amazon’s Midtown office
    CBRE's Chuck Leitner with the Brooklyn Logistics Center (CBRE, MarchAssociates Construction)
    CBRE arm scores $106M refi for Amazon-operated warehouses
    CBRE arm scores $106M refi for Amazon-operated warehouses
    From left: Mark Zuckerberg, Jeff Bezos and 770 Broadway (Getty, Loominosity Z, CC BY-SA 2.0 - via Wikimedia Commons)
    Meta, Amazon bail on NYC office expansions
    Meta, Amazon bail on NYC office expansions
    Pyramid Management Group’s Stephen Congel and Crossgates Mall in Albany (Pyramid Management Group, Google Maps)
    Amazon paying rent, but mall landlord sues anyway
    Amazon paying rent, but mall landlord sues anyway
    DH Property Holdings's Dov Hertz, CBRE Investment Management’s Chuck Leitner and 640 Columbia Street (CBRE, 640 Columbia)
    CBRE nears $330M deal for Amazon-leased warehouse in Red Hook
    CBRE nears $330M deal for Amazon-leased warehouse in Red Hook
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...