1221 Hermosa Ave LLC Acquires Property From Federal Realty Investment Trust For $18M In Hermosa Beach

The Bijou Building, a three-story mixed-use property, is located at 1221 Hermosa Ave, Hermosa Beach. The building was sold for $18,000,000.00 and encompasses 23,172 square feet. The property was developed in 1923 and has been adapted into office and retail spaces. At the time of sale, the building was 94 percent occupied by tenants such as Chase Bank, Beach City Capital, Steel Partners, and Bar Method.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $18,000,000.00
• Address: 1221 Hermosa Ave, Hermosa Beach
• Buyer: 1221 Hermosa Ave LLC
• Seller: Federal Realty Investment Trust
• Square Footage: 23,172
• Market: Hermosa Beach
• Buyer's Representatives: Amir Araghi, Jonathan Dadourian
• Seller's Representatives: Brad Feldman-Interra Realty, Brad Feld
• Brokers: Ken White-Newmark, Kevin Shannon-Newmark, Laura Stumm-Newmark, David Ghermazian-Newmark Grubb Knight Frank

Key individuals involved in the transaction included Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Sean Fulp, Ryan Plummer, and Brad Feld, who represented the seller. The buyer was represented by David Ghermezian, Amir Araghi, and Jonathan Dadourian, all from Newmark Knight Frank. Additionally, David Milestone and Brett Green from NKF’s Debt and Structured Finance group facilitated acquisition financing for the buyer.