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The Real Deal Los Angeles

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

Whittier retail center opened this year and is fully leased
May 30, 2017 04:15PM

15311 Whittier Boulevard, Joseph Ryan (Oppidan Investment Co.)

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