CBRE has announced the sale of The Shops at Hancock Lofts, a 10,513-square-foot retail condo property located at 8759, 8761, and 8763 Santa Monica Boulevard in West Hollywood, California. The asset sold for $13 million to Goodyear Investments, LLC – a private investor that completed the sale to satisfy a 1031-exchange. Goodyear Investments, LLC was represented by Pegasus Investments on both the acquisition and debt origination.
CBRE’s Patrick Wade and Alex Kozakov represented the seller and institutional owner in the transaction.
The Shops at Hancock Lofts is fully leased to a strong mix of tenants, including Tender Greens, Thirty-2 Dentistry and Crossroads Trading. The offering also included the parking garage and associated revenue.
“West Hollywood continues to be one of the most coveted retail investment submarkets in Southern California,” said Wade, executive vice president at CBRE. “With a high-performing tenant mix and significant foot traffic, this was a rare opportunity to secure a high-quality asset in an exceptionally competitive market.”
Information sourced from CBRE. Learn more by contacting claudia.lippman@cbre.com.