A lot more money changed hands for a lot more square footage in 2025 when it came to Los Angeles County’s largest retail investment deals.
Roughly $968 million was spent on 2025’s top 10 biggest trades by dollar volume through September, driven in part by three nine-figure deals, according to reporting from The Real Deal and TRD analysis of quarterly reports from Kidder Mathews and CBRE. The year’s priciest sale clocked in at $332.1 million.
In 2024, the 10 biggest deals in the same nine months totaled $595 million. That year there was only one nine-figure deal, and at $103 million, it was 31 percent less than 2025’s No. 1 deal.
This year’s deals trounced 2024 in terms of square footage. In 2025, the top 10 deals came to 3.7 million square feet, of which 2.1 million square feet was in one project. The year prior, transactions tallied roughly 1 million square feet.
On a per-square-foot basis, 2024 fared better. The average price of the top 10 retail sales this year was $607, with only one deal over $1,000 per foot. In 2024, the average was $1,050 per square foot with one deal coming in at $3,524 per square foot and another at $2,033 a foot.
Below is a list of L.A. County’s 10 largest retail investment sales in 2025 based onTRD analysis. The listings include property, price and buyers based on data through the third quarter.
The list excludes Blackstone’s bulk $4 billion acquisition of 93 West Coast shopping centers, including eight in Southern California, via its acquisition of Retail Opportunity Investment, as well as InvenTrust Properties’ $306 million portfolio sale of five Southern California shopping centers including River Oaks in Santa Clarita, to Nuveen.
“2025 kicked off with the Blackstone and Retail Opportunity Investments Corp. portfolio exchange, demonstrating heavy confidence in California retail from one of the world’s prominent investment banks,” said CBRE’s Jimmy Slusher. “Adding to the momentum, improved lending options and resilient leasing activity combined to produce an outsized volume of both single-asset and portfolio transactions.”
1. Lakewood Center | Pacific Retail Capital Partners, Lyon Living and Silverpeak | $332.1 million
The biggest retail deal of the year was Macerich’s $332.1 million sale of Lakewood Center. Though a big number, the Lakewood mall’s value has tumbled by more than half over the past decade.
The property has $410 million in commercial mortgage-backed securities coming due in January.
At roughly 2.1 million square feet, the nearly 75-year-old mall at 500 Lakewood Center Mall sold for $160 per square foot.
New owners Pacific Retail Capital Partners, Lyon Living and Silverpeak are slated to turn the 150-acre property into a mixed-use development.
Macerich bought the mall in 1975 for $160.1 million. In 2015, the real estate investment trust sold a 40 percent stake in the property, but bought it back from GIC Real Estate, per CoStar.
2. Runway at Playa Vista | Hines Global Income Trust | $202.3 million
Hines picked up Runway at Playa Vista, at 12775 Millennium Drive in Playa Vista, a 630,000-square-foot property including 221,000 square feet of retail.
The firm paid Invesco Real Estate $428.1 million for the entire site, of which $202.3 million was for the retail portion.
For just the retail piece, which is anchored by a Whole Foods, Hines paid $915 per square foot.
Runway’s residential component spans 420 luxury units across 14 acres.
The property, for which Invesco reportedly paid $475 million in 2016, is part of L.A.’s Playa Vista master-planned community.
Overall, the master-planned community has 6,000 residences, 3 million square feet of commercial space and 300,000 square feet of retail.
3. Long Beach Towne Center | CenterCal Properties and DRA Advisors | $145 million
CenterCal Properties and private equity real estate firm DRA Advisors acquired the 870,000-square-foot Long Beach Towne Center for $145 million, or $169 per square foot. Vestar, a Phoenix-based mall giant, developed and sold the mall.
CenterCal and DRA along with the City of Long Beach plan to overhaul the 26-year-old mall at 7575 Carson Boulevard, with a design refresh including upgraded lighting, signage, pedestrian walkways, landscaping, public art and parking. New tenants will include chef-driven restaurants and boutique fitness.
CenterCal Properties is a Costa Mesa-based retail and mixed-use developer and operator, and DRA Advisors is a New York-based real estate private equity firm.
4. Hollywood Galaxy – Petersen Building | Justin Mateen and Tyler Mateen | $69 million
Brothers Justin Mateen, co-founder of Tinder, and Tyler Mateen, CEO of real estate investment firm Cannon TTM, have snapped up the Hollywood Galaxy shopping center and neighboring historic Petersen Building from Federal Realty Investment Trust.
The retail property at 7021 Hollywood Boulevard and the connected Petersen Building at 7001 Hollywood Boulevard went for $69 million. Together they total 180,797 square feet, putting the deal at $382 per square foot.
The acquisition marked the brothers’ first investment outside of Los Angeles’ Westside and allowed them to plant a flag on the Hollywood Walk of Fame.
Completed in 1990, the three-story Hollywood Galaxy shopping center is currently almost 80 percent occupied with tenants like Target and LA Fitness. The two-story Petersen Building has two tenants, La La Land souvenirs and gifts on the bottom floor and Marshall’s on the second floor, according to Aaron Bettencourt, managing director of transactions for Reza Investment Group, which represented the seller.
This is the second year in a row that the buyers and the seller made TRD’s top retail sales list, though they were in unrelated deals in 2024.
5. One Westside | FHC Frameless Hardware | $67 million
Glazing supply company FHC Frameless Hardware picked up One Westside, at 11250 West Olympic Boulevard, in September.
The two-story, 94,125-square-foot shopping center in West Los Angeles went for roughly $67 million, or $711 per square foot.
Built in 1996, the property boasts a neon fish tank design by L.A. artist Michael Flechtner. Tenants include Marshall’s, Michael’s and HomeGoods.
New owner FHC Frameless Hardware is a manufacturer and supplier of glass and architectural hardware for the glazing and fenestration industries. Its corporate headquarters is in South Gate.
6. Village Walk | JH Real Estate Partners | $37.5 million
Newport Beach-based JH Real Estate Partners nabbed Village Walk from Arizona firm Vestar for $37.5 million.
The 133,000-square-foot mall in Pico Rivera, with addresses of 8500, 8540, 8580 Whittier Boulevard and 5005 Paramount Boulevard, closed in February at $282 per square foot. The sale came more than a year after Vestar put the property on the market.
Village Walk was fully leased when the property hit the market.
More than half the mall — roughly 69,200 square feet — is leased to a 14-screen Cinepolis cinema, which anchors the center. Other tenants in the complex include hardware store Harbor Freight and a CVS.
7. Hermosa Strand & Pier | Hermosa Pier and Strand, LLC | $33.5 million
Beverly Hills-based Bolour Associates sold a 1-acre beachfront retail and short-term rental portfolio where it had been planning to develop a three-story hotel along The Strand in Hermosa Beach.
A shell company tied to restaurateur Harold Rothman — a local restaurateur known for running Manhattan Beach eateries Fishbar and Manhattan Beach Creamery — shelled out $33.5 million for the assemblage, or $1,494 per square foot.
The portfolio includes four single-story retail buildings totaling 22,421 square feet at 11-29 Pier Avenue and 1250-1272 The Strand, plus three lots with nine short-term rental units on the other side of the block at 20-32 13th Street.
Boulour acquired the beachfront retail buildings in 2013 for $19.5 million, then nabbed the neighboring rental properties for $7.2 million in two separate deals in 2015 and 2017.
8. Foothill Park Plaza | Phillips Edison & Co. | $31.3 million
After four decades of ownership, Westar Associates sold Foothill Park Plaza, a 43,618-square-foot shopping center in Monrovia to Phillips Edison & Co. The deal clocked in at $31.3 million, or $716 per square foot.
Foothill Park Plaza was developed at 102 West Foothill Boulevard in 1985 and is anchored by Vons. Newport Beach-based Westar Associates leased and managed the property for 40 years.
Foothill Park Plaza was one of five shopping centers Phillips Edison & Company — one of the nation’s largest owners and operators of grocery-anchored shopping centers — acquired during the first quarter.
9. Vons | Broadway 3721, LLC | $26.9 million
In July, an LLC picked up a Vons in Downtown Long Beach for nearly $26.9 million.
The 50,188-square-foot property, with an address of 600 East Broadway, sold for $535 per square foot. It came with an existing $13 million loan, according to Colliers’ El Warner, one of the agents who represented the seller in the deal.
The buyer, going by Broadway 3721, LLC, hails from Asia, Warner said.
A high-net-worth person out of Orange County, going by CWS Hermann Lofts, LP, was the seller of the one-story building that was erected in 2010, Warner said. The seller wanted to reinvest the capital into “a larger project,” he said.
10. 1000 South Central Avenue | City of Glendale | $24 million
Aria Investments sold a former home to a JoAnn Fabrics and Crafts store to the City of Glendale for $24 million. The price equates to $710 per square foot for the 33,818-square-foot building.
The city plans to redevelop the 2.4-acre property at 1000 South Central Avenue into a park and recreation center, making it the fifth-largest park in the area, the city touted.
With the July purchase, Glendale made its first major park property acquisition in over 25 years, per the city.
Joann was in the building, erected in 1966 and renovated in 2013, for 11 years, L.A. Business First reported.
Conceptual plans for the park are expected to be presented to the city council in late 2026.
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