Property Address: 28821-28901 South Western Avenue Rancho Palos Verdes, CA 90275
Square Footage: 172,913
Bill Bauman and Kyle Miller, (now both with Newmark Knight Frank, and formerly with Savills Studley’s National Retail Services Group at the time of this transaction), successfully sold The Terraces, an approximately 172,913-square-foot regional shopping center located in the affluent community of Rancho Palos Verdes. The sales price was $54.1 million. The property was purchased by a subsidiary of Retail Opportunity Investments Corporation (ROIC), a publically traded REIT. The seller was Terraces Subsidiary, LLC, a joint venture of Combined Properties and Saban Capital Group, Inc. Bauman and Miller orchestrated a comprehensive marketing campaign for the center, which garnered significant interest and multiple offers from institutional investors.
Property Address: 401 Broadway Santa Monica, CA 90401
Square Footage: 8,665
Cbre’s Alex Kozakov and Patrick Wade lead the retail investment sales team based in the CBRE headquarters in Downtown Los Angeles. The team demonstrated its expertise in the transaction of this Santa Monica-based property. Located at 401 Broadway, this new project sits in one of the best corners of Santa Monica in proximity to 3rd Street Promenade, Metro Station and the Santa Monica Place Mall. Kozakov and Wade represented both the buyer, Harlington Realty Co, LLC., and the undisclosed selling partnership in this transaction.
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