Here are LA County’s top 5 retail sales of January

Combined, they amounted to $80M

TRD LOS ANGELES /
Feb.February 22, 2019 04:30 PM
From left: 1408 3rd Street Promenade, Santa Monica and 6501 San Fernando Road (Credit: LoopNet and Google Maps)

The new year has already started off stronger than the tail end of 2018, when the most expensive retail sale amounted to $46.4 million.

In January, the five most-expensive retail sales combined to $80.8 million, a little less than double the total from December. The priciest deals spanned from Santa Monica to Claremont, with the most expensive one taking place on busy Third Street Promenade.

Data was compiled from property records on Property Shark.

1408 3rd Street Promenade, Santa Monica | $24.5 million

Blatteis & Schnur, Inc., a real estate firm based in Century City, paid $24.5 million to acquire a three-story building at 1408 3rd Street Promenade in Santa Monica. The sellers were tied to a trust controlled by Arno and Adelheid Roscher, records show. They had owned the property since at least 2005. Spanning 17,000 square feet, the property includes office space over retail. The deal closed Jan. 24.

2. 6501 San Fernando Road, Glendale | $16.5 million

Super King Markets, acting through an LLC, purchased a 51,000-square-foot retail plaza in Glendale for $16.5 million. Sikouhi Malkhassian and Varoush Ferkassian, also behind an LLC, sold the property at 6501 San Fernando Road. It was anchored by Golden Farms Market, an international supermarket, before the store closed earlier this year. Super King already has a few locations in L.A. County, including one near Atwater Village.

3. 5935 West Pico Boulevard, Mid-City | $14.1 million

Amoroso Companies sold a vacant shopping center in Mid-City, less than a year after it filed plans requesting approvals to build a mixed-use project on site. The company sold the 25,800-square-foot lot to Cityview, an investment management and development firm, for $14.1 million. In May 2018, Amoroso, which is based in Calabasas, filed plans to build 123 units at the property. It’s unclear whether the deal, which closed Jan. 16, includes entitlements for the mixed-use project.

4. 2209 East Baseline Road, Claremont | $13.8 million

AEW Capital Management, based in Downtown Los Angeles, purchased a shopping plaza in Claremont for $13.8 million. The retail center, located at 2209 East Baseline Road, includes a Jersey Mikes, UPS store and dry cleaners. The sellers were LStar Ventures, a privately held real estate firm based in North Carolina. The firm owned the property since 2014, when it paid $2.8 million for it.

5. 1875 West 190th Street, Torrance | $12 million

Sares-Regis unloaded a 20,000-square-foot lot at 1875 West 190th Street in Torrance for $12 million. The buyers, CalBay Development and Investments, are based in the South Bay and focus on developing retail properties. Records show the property was once part of Toyota’s sprawling campus in Torrance, which Sares-Regis bought in 2017 for $270 million. The real estate firm has since shed some of those holdings, including the neighboring property at 2050 West 190th Street.


Related Articles

arrow_forward_ios
Space Investment Partners co-founders Mark Moshayedi and Ryan Gallagher with Westport Plaza (Credit: Connect California)

Playing small mall: New firm picks up shopping center in Costa Mesa

DH Holdings founder David Horenstein and Conejo Gateway

Local firm plans to expand Thousand Oaks retail plaza after $18M purchase

Hollywood & Highland, Gaw Capital Chairman Goodwin Gaw and DJM founder John Miller

CIM Group sells Hollywood & Highland mega-complex for $325M: sources

Rick Edwards, partner at Seagrove Property Group and the property

Foreign investor drops $13.7M on fully leased shopping center in San Gabriel Valley

Fabio Conti and the retail centers (Credit: Facebook)

Real estate’s on the menu for Fabio Conti, as restaurateur buys 2 retail centers

Sterling Organization CEO Brian Kosoy and the two Melrose Avenue properties

Sterling Organization buys retail portfolio along booming Melrose Avenue

Capital Square 1031 CEO Louis Rogers and 530 West Covina Parkway (Credit: 42 Floors)

Gym work out: 24 Hour Fitness-leased property in West Covina has new owner

An empty big-box store (Credit: iStock)

Big-box store closures in Q1 clear out retail space in LA: report

arrow_forward_ios