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7/08/22
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Luxurious Properties LLC purchased an 11.5k sf shopping center and land parcel in Los Angeles in a $3.2 mil transaction. The seller was Garrison Property Management LLC.
The shopping center is located at 1628-1642 Firestone Blvd on the southwest corner of Firestone Blvd and Maie Ave in unincorporated Los Angeles. Built in 1987, the property is an eight-unit, multi-tenant shopping center situated on 36.5k sf of land. The retail center enjoys great visibility from the signalized intersection at Firestone Blvd and Maie Ave. Tenants in the center are mix of local and regional retailers. The location offers easy access to the Blue Line Metro stop and is located within the Opportunity Zone.
Steve Liu, Nikki Liu and Ramzy Prado with NAI Capital Commercial’s Retail Services Group represented both parties in the deal According to Steve Liu, the combination of 100% occupancy, month-to-month leases and additional land to build made this an ideal value-add investment for the buyer.
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