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| Vanessa Zhang |
Los Angeles, CA – Beta Agency, a leading commercial real estate brokerage and advisory firm, has completed the sale of a supermarket anchored shopping center located at in Lawndale, California to an undisclosed buyer for over $14 million.
The property consists of a Smart and Final
store and a multi-tenant shop building. The center and was 100% occupied at the
time of the sale. Shop space tenants in the center included Subway, Wingstop,
Panda Express, Daily Nails & Spa, Wells Fargo.
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| Richard Rizika |
Beta Agency’s Richard Rizika and Vanessa Zhang represented the seller, a private shopping center owner based out of San Pedro, California.
The Buyer, a
private 1031 exchange entity based out of Los Angeles, was represented by Adam
Friedlander of Beta Agency and Moon Lim of JLL.
“The Buyer acquired Lawndale Plaza because of its strong operating history, stabilized income stream and excellent real estate fundamentals,” said Rizika.
“Several of
the shop space tenants recently exercised their option. This property satisfied
the Buyer’s second half of their 1031 exchange and is a nice addition to their
shopping center portfolio.”
Adam Friedlander
Rizika said “grocery anchored shopping centers in primary markets continue to be highly sought-after real estate investments and will continues to attract aggressive capital.”
About Beta Agency
Beta Agency is a leading commercial real
estate services firm located in El Segundo, California. Beta’s investment
advisory service utilizes proprietary analytics and design services to market
commercial real estate. Beta Agency represents over 10 million square feet of
commercial property and over 70 brands throughout the Western US.
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate
Industry: I do what I love and love what I do.”
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