Here are LA County’s top retail investment sales in April

The sale of a former Toys "R" Us location was the biggest transaction

May.May 22, 2018 03:30 PM
Former Toys “R” Us at 16040 Sherman Way (Credit: Google Maps, Pixabay)

UPDATE, 2:10 p.m., May 25: When the top retail sale goes from Louis Vuitton to Toys “R” Us, you know a dropoff is coming.

Los Angeles County’s top retail sales in April combined for nearly $47 million last month, a big fall from March’s total of $316 million.

Last month, the top sale in the county totaled $17 million, when a former Toys “R” Us was unloaded following the chain store’s bankruptcy filing.

In March, Louis Vuitton parent company accounted for more than a third of the $316 million total with its $110 million acquisition of a Rodeo Drive property in Beverly Hills.

The April retail sales numbers were compiled from property records by Real Capital Analytics and PropertyShark.

1. 16040 Sherman Way – Vallarta Supermarkets | $17.2M

A bankruptcy sale topped the charts last month, when the former Toys “R” Us was sold for $17.2 million. Vallerta Supermarkets acquired the roughly 124,200-square-foot property, records show. The property is located in Van Nuys. The sale was prompted by the Toys “R” Us bankruptcy, which was announced earlier this year. The toy retailer will shutter all 735 U.S. stores shortly after the announcement.

2. 4000 Arden Drive – Sukut Construction | $10.9 million

A 10,600-square-foot DMV-occupied building sold for $10.9 million to Sukut Construction last month, claiming the third spot on the list. Xebec Realty Partners was the seller. The El Monte-based property is one of the three privately-owned DMV offices in Los Angeles, and is fully leased until 2031.

3. 5831 Firestone Boulevard – Pak Trust | $10 million

A 1987-built retail property at 5831 Firestone Boulevard in South Gate sold for $10 million last month to a family trust controlled by Kwang and Kyong Pak. The seller was Bank of the West. The property, named Shops at El Paseo Center, includes retailers Dollar Tree, Sprint, 85 Degree Bakery and an insurance company, within 24,000 square feet.

4. 1063 East Avenue J – Yong Ho Lee | $4.35 million

An entity controlled by an individual named Yong Ho Lee paid $4.35 million for a 9,300-square-foot property at 1063 East Avenue J in Lancaster. A family trust connected to Kurt Miner and Michelle Lord-Miner sold the two-building retail campus, which was built in 1973. Tenants include Dragon Garden and American Tire Depot.

5.  2354 Cotner Avenue – Cotner Automotives LLC | $4.15 million

An LLC operating under the name S-2 Properties acquired the 11,000-square-foot building in Westside. Pittsburgh-based S-2 is listed as a mobile home parks and communities company. Cotner Automotives sold the single-story property, built in the 1955, which sits on half an acre of land.

Correction: A previous version of this article included an incorrect property sale, which has been removed.

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