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