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February 24, 2021
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RETAIL NEWS
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Robhana Group Makes $8 Mil Retail Buy in Lomita

2/01/21

Robhana Group purchased a NNN-leased retail property in Lomita for $8.2 mil. The property, located at 24911 S Western Ave, was sold by MGP IX PROPERTIES LLC, an entity of Merlone Geier Partners.

The property sits on more than two acres and consists of a freestanding, 26k sf building leased to Savers, a leading for-profit global thrift retailer with more than 300 store locations. The acquisition offers the new owner the opportunity to achieve an attractive current return with a continuation of the existing lease and potential upside through re-tenanting in the future or through future development on the unencumbered lot.

Alex Kozakov, Pat Wade and Matthew Greenberg of CBRE represented the seller in the transaction.

“This was an ideal, safe investment with the tenant responsible for most expenses and maintenance under the current lease,” said Kozakov. “The asset received multiple offers, and the total escrow length was only 35 days and closed all-cash.”




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