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The Real Deal Los Angeles

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

Combined, they amounted to $80M
By Natalie Hoberman |
Research by Haru Coryne
February 22, 2019 04:30PM

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.