These are LA County’s top 5 retail investment sales of October

Rodeo Drive’s sky-high prices dominate list again

Los Angeles /
Nov.November 20, 2018 05:40 PM
357 North La Brea and 457 North Rodeo
 

For the second month in a row, Rodeo Drive dominated the list of retail investment sales in Los Angeles County.

The famed Beverly Hills corridor saw one major sale in the top five during October. But the $96-million price tag at 457 N Rodeo Drive eclipsed all other sales during the month by at least ten-fold.

With it, the largest retail investment sales in Los Angeles County last month totaled more than $118 million.

In September, Rodeo Drive also set the pace after the trade of 468 N Rodeo Drive for $245 million. The two months were major upswings after the county saw top retail sales total $49 million in July and $85 million in June.

The data was compiled using information from PropertyShark.

1.  457-459 N. Rodeo Drive — Crown Equity | $96 million

Crown Equity, owned by Michael Shabani, paid for two storefronts in Beverly Hills for around $8,600 per square foot. The 11,600-square-foot property is currently leased to fashion houses Alexander McQueen and Brioni.

Records show Kathryn Lang with Lang & Lang Properties LLC was the seller. It’s unclear how much the Langs paid for the property, which has remained in the family since at least 2008.

2. 8800 Tampa Ave — Hillary Greene-Pae | $9.7 million

Michael Weiss with 8800 Tampa Ave LLC sold a Petco in Northridge to Hillary Green-Pae with HGP Investments LLC and JJ Real Estate Investments LLC, records show.

In September, a 90,000 square-foot shopping center in Northridge sold for $16 million on an online auction, and Symphony Development announced plans to build a 128 unit project in the same neighborhood.

3. 9805 Mason Ave — Excel Hotel Group | $4.4 million

Excel Hotel and Chatsworth Hotel LP bought the property at 9805 Mason Avenue in Chatsworth from a joint-venture, which also includes Excel Hotel Group.

Earlier this year, Atlas Capital acquired an office complex in Chatsworth for $41 million, and TA Realty sold its renovated industrial property at at 9140 Lurline Avenue for $28.5 million.

4. 8111 Rosecrans Ave — Nick Park | $4.3 million

Nick Park, with entity 60 E 34th St. Corp., purchased the property at 8111 Rosecrans Avenue in Paramount near South L.A. from Brandon and Kimberly Hwang for more than $4 million, records show.

A few miles away, Yong Ahn, a Rancho Palos Verdes investor, purchased the Downey Gateway for $16.5 million earlier this year. In February, the 25,000-square-foot shopping center was 91 percent leased.

5. 357 N. La Brea Avenue — Sonia Rose Boyajian | $3.8 million

A seller listed as “139 S Vermont, a Partnership” traded the property at 357 N. La Brea Avenue in Los Angeles to Sonia Rose Boyajian for just shy of $4 million, records show.

Nearby, West Hollywood is moving forward with CIM’s mixed-use project that will add 85 hotel rooms and 4,000 square feet for restaurant space to the La Brea corridor.


Related Articles

arrow_forward_ios
Ben Affleck and 1172 Napoli Drive in Pacific Palisades (Getty Images, Redfin)
Ben Affleck lists Pacific Palisades mansion for $30M
Ben Affleck lists Pacific Palisades mansion for $30M
Canyon Capital Advisors' Mitchell Julis with 1109 Calle Vista Drive (Canyon Capital Advisors, Victoria Risko)
Hedge fund chief’s Beverly Hills house takes 21% price cut
Hedge fund chief’s Beverly Hills house takes 21% price cut
Mercedes Abramo, CEO of Cartier North America, and 370 North Rodeo Drive (Getty Images, Gensler)
Cartier delays building Rodeo Drive store
Cartier delays building Rodeo Drive store
Nahla Capital's Genghis Hadi and GPI's Cliff Goldstein with rendering of Rosewood Residences Beverly Hills (Common Ground, GPI, Rosewood)
Luxe condo under construction in Beverly Hills could ask $40M
Luxe condo under construction in Beverly Hills could ask $40M
Corinne Verdery, a rendering of 333 La Cienega, and Rick Caruso (Getty Images, Caruso Affiliated)
Meet Rick Caruso’s successor-in-waiting: Corinne Verdery
Meet Rick Caruso’s successor-in-waiting: Corinne Verdery
Sue Gross and Anthony Hsieh with One Thousand Museum and 960 N. Alpine Drive (Getty, LoanDepot, One Thousand Museum, Zillow)
OC billionaires reconfigure residential portfolios
OC billionaires reconfigure residential portfolios
Leslie Minniti and 9674 Highridge Drive (Compass, Redfin)
Agent-turned-designer has pending deal for $21M Beverly Hills spec house
Agent-turned-designer has pending deal for $21M Beverly Hills spec house
510 Arkell Drive with architect Miguel Angel Aragones (Inessa Binenbaum, LinkedIn)
Trousdale Estates home remodeled by Mexican architect lists for $20M
Trousdale Estates home remodeled by Mexican architect lists for $20M
arrow_forward_ios

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

Loading...