Following is a summary of the ten largest retail deals in the Los Angeles Metro market for the first six months of 2014.
10 Largest Retail Deals in Los Angeles Metro in 2nd Quarter 2014
|Property Name/City||Sale Price||Square Feet||Price/Square Foot||Cap Rate||Cap Rate|
|8655 Beverly Blvd|
|24 Hour Fitness|
|4550 Van Nuys Blvd|
Of particular note is the occupancy level of the transactions, ranging from one transaction at 77% to the remaining properties being between 90 and 100% occupied at the time of sale. This reflects the appetite for investment grade properties that are in demand, particularly well located anchored centers. What could be better located and anchored than the Malibu Village transaction, with tenants such as Wells Fargo, Nike, Sephora, Chipotle, and many others. This property last sold in July 2011 for $77 million, and three years later for $120 million, an approximate 56% increase! The recent buyer is a German institutional investment firm, which reflects another trend toward an increase in cross border transactions.
The Alexander McQueen building is located at 8379 Melrose Avenue in the trendy section of West Hollywood. It is fully occupied by the fashion designer, Alexander McQueen, and is situated on a hard corner.
For further details on any one of the 10 deals, please send me an e-mail using the “Contact Me Directly” tab at the top of this page.