Oppidan Investment asks $43M for 90K sf shopping center

Whittier retail center opened this year and is fully leased

TRD LOS ANGELES /
May.May 30, 2017 04:15 PM

The retail industry is facing an era of turmoil as shoppers change their habits, causing some companies behind the curve to file for bankruptcy.

But developer Oppidan Investment Co. is hoping to attract a different kind of shopper – one that will scoop up its 90,000-square-foot retail center in Whittier.

The Excelsior, Minneapolis based firm is asking $43.1 million for its new Friendly Hills Marketplace development, REAlert reported. CBRE has the listing.

The five-building property at 15311 Whittier Boulevard opened this year. It has 385 parking spaces and is fully leased.

Tenants include Orchard Supply Hardware, HomeGoods, Ulta and Sketchers.

Leases for all but one percent of the space have more than 10 years remaining, according to REAlert.

Oppidan Investment launched in 1991 and was founded by Joseph Ryan. The company has three offices and a portfolio of more than 400 projects, representing 12 million square feet valued at more than $2.7 billion. [REA]Subrina Hudson


Related Articles

arrow_forward_ios
Carson Mayor Albert Robles and a rendering of the proposed project (Credit: The city of Carson)

Simon-Macerich mall project in Carson sparks latest legal claim

Simon-Macerich mall project in Carson sparks latest legal claim
Alicia Silverstone from the film 'Clueless', 1995, and a rendering of the Beverly Center (Credit: Paramount Pictures/Getty Images, and Beverly Center via Los Angeles Times)

For LA’s malls, lawsuits could be the next crisis

For LA’s malls, lawsuits could be the next crisis
Baldwin Hills-Crenshaw Plaza mall and CIM co-founder Avi Shemesh

CIM Group backs out of mall buy after community backlash

CIM Group backs out of mall buy after community backlash
The Egyptian theater (Credit: iStock)

LA movie theaters will soon reopen, but they won’t be the same

LA movie theaters will soon reopen, but they won’t be the same
From left: Bill Shopoff, Sandy Sigal, and David Simon

Payment Gap: Retailers are reopening, but many aren’t paying rent

Payment Gap: Retailers are reopening, but many aren’t paying rent
Joshua Golcheh

The way out: Developer cites coronavirus in suit to exit OC shopping center deal

The way out: Developer cites coronavirus in suit to exit OC shopping center deal
Rick Caruso, the Grove mall (Credit: Donato Sardella/Getty Images, and CARUSO)

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts
Macerich CEO Thomas O’Hern, Carson Mayor Albert Robles, and a rendering of the site

$400M mall brawl: Simon Property Group, Macerich sue city of Carson

$400M mall brawl: Simon Property Group, Macerich sue city of Carson
arrow_forward_ios

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

Loading...