Tuesday, June 28, 2016

HFF closes sale of grocery-anchored retail center in Los Angeles’ South Bay Communiity of Gardena, CA

Redondo Plaza, Gardena, CA           (Photo by Marc Weisberg of Luxury Real Estate Images)

Gleb Lvovich

 NEWPORT BEACH, CA, June 28, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Redondo Plaza, a fully-leased, grocery-anchored retail center in the South Bay-area community of Gardena, California. 

HFF marketed the property on behalf of the seller, Gerrity Group.  Storm Properties, Inc purchased the asset free and clear of existing debt. 

Anchored by Smart & Final grocery store, the 100-percent-leased Redondo Plaza is home to national and regional tenants, including Super Laundry, Crazy Rock’n Sushi, T-Mobile, Domino’s Pizza and Jackson Hewitt Tax Services. 

The center is located at 1550 W. Redondo Beach Boulevard in Gardena, a Southern California city approximately 16 miles south of Los Angeles.  

Located on one of the main thoroughfares in Gardena, the property is exposed to more than 33,000 vehicles per day, and more than 230,000 residents live within a three-mile radius of Redondo Plaza.

CJ Osbrink
The HFF retail investment sales team representing the seller was led by Gleb Lvovich, CJ Osbrink and Bryan Ley. 

“HFF generated top-tier pricing, while navigating the rollover of Smart & Final with less than 18 months of lease term remaining and making up more than 65 percent of the gross rent,” Lvovich said.  “It is a testament to the strong demand for well-located retail.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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