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8/02/18
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Linnard Lane, Managing Member of Empire Realty Group, LLC has arranged the sale of a cocktail bar and real estate located at 1500 Aviation Blvd in Redondo Beach, CA. Parkers on Aviation acquired the asset from 1500 Aviation Partners, LLC for an undisclosed amount. Linnard Lane represented both the seller and the buyer in the deal.
Built as a single-tenant property which has been home to The Gasser Lounge for seven years, one of Redondo's most popular nightspots, Parkers intends a substantial renovation and conversion to a new contemporary restaurant and lounge. Empire assisted the Buyer with arranging and restructuring the property's $975,000 debt as well as assisted the Seller in curing and navigating numerous outstanding tax liabilities to close the sale.
Empire Realty Group, LLC since 1995 has specialized in the ground up development and repositioning of retail and restaurant properties across California for regional and national chains as well high touch emerging and experiential brands. Through its affiliate, High Touch Group, Empire provides tenant representation and real estate brokerage services focused on serving the restaurant and hospitality industry.
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