logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard

This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy.

Read More
Accept
France
  • Americas
  • APAC
  • EMEA
  • Global
  • Argentina
  • Brazil
  • Canada
  • Chile
  • Colombia
  • Latin America / Caribbean
  • Mexico
  • Panama
  • Peru
  • United States
  • Venezuela
  • Australia
  • Cambodia
  • Hong Kong
  • India
  • Indonesia
  • Japan
  • Korea
  • Mainland China
  • Malaysia
  • New Zealand
  • Philippines
  • Singapore
  • Taiwan
  • Thailand
  • Vietnam
  • Africa
  • Angola
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Ghana
  • Greece
  • Hungary
  • Ireland
  • Israel
  • Italy
  • Kazakhstan
  • Kenya
  • Luxembourg
  • Morocco
  • Netherlands
  • Nigeria
  • Norway
  • Oman
  • Pakistan
  • Poland
  • Portugal
  • Romania
  • Russia
  • Slovakia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
01 53 64 00 00
  • Services
    • Business Lines
      • Advisory and Transaction
      • Capital Markets
      • Consulting
      • Asset Services
      • Project Management
      • GWS
      • Valuation
    • Services for Investors
      • Market Analysis
      • Strategic Consulting
      • Acquisition and Disposal
      • Due Diligence
      • Debt Advisory
      • Leasing
      • Project Management
      • Consulting for Land Development
      • Property Management
      • Accounting and Tax Management
      • Valuation
      • Sustainability
    • Services for Occupiers
      • Consulting on Real Estate Organisation
      • Strategic Consulting
      • Workplace Strategy
      • Leasing and acquisition
      • Finance
      • Sale and Leaseback
      • Account management
      • Fit-out
      • Portfolio Management
      • Facility Management
      • Asset and Employee Services
      • Valuation
      • Consulting for Development
      • Sustainabilty
    • Industries
      • Office
      • Industrial and Logistics
      • Retail
      • Hotel
      • Residential
      • Infrastructure
      • Healthcare and Serviced Residential
  • Properties
  • Research & Reports
    • About Research
      Global Research Gateway
  • Offices
  • About CBRE
    • The CBRE Group
      Case studies
      Blog
      Project Immobilier
      Values
      Corporate Social Responsibility
      Careers
      Investor Relations
      Media Center

Next

SNCF
  • CBRE ANNOUNCES SALE OF RETAIL PROPERTY IN WEST LOS ANGELES TO CANADIAN INVESTOR FOR $17.5 MILLION

CBRE ANNOUNCES SALE OF RETAIL PROPERTY IN WEST LOS ANGELES TO CANADIAN INVESTOR FOR $17.5 MILLION

Los Angeles, CA | 26 February, 2018
  • Email
  • Share
  • Tweet
  • Share
  • Share

CBRE announced the sale of the Triangle Center retail property located in Culver City and Los Angeles to foreign-based Bastion Development Corp. for $17.5 million.

Alex Kozakov, Patrick Wade and Neal Golub of CBRE represented the seller, Triangle Center, LLC, a private investor, and Mary Cronin of Urban Real Estate represented the buyer.

The 16,128 square-foot strip center, which cuts across the LA and Culver City boundaries, is located at 12717-12761 Washington Blvd. in Culver City and at 3984 & 3988 Meier Street in Los Angeles. It features four single-unit tenants and a free-standing 99 Cents Only store.

“This is an ideal repositioning opportunity in one of West LA’s hottest neighborhoods,” said Kozakov. “The current tenants are all in short-term leases, which allows the new owner to collect an income stream while offsetting expenses during the entitlement and repositioning process. This is a one-of-a-kind chance.”

The deal procured more than 550 signed confidentiality agreements and more than 20 offers, symbolizing the great demand for quality retail properties in Los Angeles, according to Golub.

“This site sits at the western edge of Culver City and very close to the highly desirable West Los Angeles submarkets of Mar Vista, Marina Del Rey and Venice Beach,” said Wade. “The property benefits from an exceptional location with proximity to the beach and major public transit.”

The property is located in an area that is home to 271,000 people with an average household income of more than $112,000 in a three-mile radius. The outlook for the Greater Los Angeles retail market is positive, according to CBRE’s latest quarterly report. Vacancy levels are projected to move up slightly throughout 2018, while rental rate growth is also expected to increase gradually over the next four quarters.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contacts

Nadja Brandt, Media and Communications Manager
Nadja Brandt
Corporate Communications, Southern California
+1 213 6133627
Alexa Nestlerode
Corporate Communications, Southern California
+1 213 6133174
  • PROPERTY SERVICES
  • PROPERTIES
  • RESEARCH & REPORTS
  • OFFICES
  • ABOUT CBRE
  • Sitemap
  • Privacy Policy
  • INVESTOR RELATIONS
  • Twitter
  • LinkedIn
Headquarters France | 76 rue de Prony | 75017 Paris