Here’s Hermosa Beach’s Priciest Mixed-Use Sale of 2025

The biggest mixed-use property deal by sales price in Hermosa Beach so far this year is the $33.5 million deal for a 1-acre beachfront retail and short-term rental portfolio, according to Los Angeles County tax assessor records through June 23.

Bolour Associates, a Beverly Hills-based real estate development and investment firm, opted to sell the site after abandoning plans to develop a three-story hotel at the site, which is at the corner of Pier Avenue and The Strand directly across from Hermosa Beach Pier.

Property records indicate Hermosa Pier and Strand, a limited liability company tied to food manufacturer Harold Rothman, bought the parcels in February,The Real Deal reported.

The portfolio includes four single-story retail buildings that make up a total of 18,551 square feet at 11-29 Pier Avenue and 1250-1272 The Strand, plus 3,807 square feet over three lots housing nine short-term rental units on the other side of the block at 20-32 13th Street.

“The disposition marks the culmination of a long-term strategic assemblage, renovation and lease-up by Bolour,” the company said in a press release at the time of the sale.

Bolour cobbled the site together starting in 2013 in separate transactions, including one for the beachfront retail buildings for $19.5 million, followed by a $7.2 million deal on the neighboring rental properties.

With the rental properties, the company said it completed a “renovation and rebrand in 2023 that positioned the asset to maximize its competitive advantage within a rare short-term rental zoning district.”

Bolour had planned to transform the buildings into a three-story hotel with restaurants on the ground floor, but the project never came to fruition.

The properties are 88 percent occupied by tenants with appeal for crowds of beachgoers, including Hermosa Cyclery, Oakberry, Hermosa Beach Trading Co., Waves, Playa Hermosa Fish & Oyster, and Heavenly Couture.

JLL’s Tim Kuruzar, Bryan Ley, Brendan McArthur and Tess Berghoff arranged the deal for Bolour.

Rothman plans to hang onto the properties on a permanent basis, Kuruzar said in a previous statement.