BARDAS Acquires Retail Property In Los Angeles For $81.9M

A retail property located at 5643 Santa Monica Blvd. in Los Angeles has been sold in a closed transaction. The property covers an area of 98,352 square feet and was sold for a price of $81,900,000, resulting in a price per square foot of $832. The transaction took place on February 25, 2021, and the buyers were represented by Avi Shemesh, Shaul Kuba, and David Simon. The sellers in the deal were CIM.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $81,900,000
• Square Footage: 98,352
• Price per Square Foot: $832
• Date: February 25, 2021
• Market: Los Angeles

In addition to the sale of the property, Bardas, the buyer, intends to construct 140,000 square feet of office space above ground parking and 5 studios. This development project is backed by Bain Capital.