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3880 Mission Road

Updated Jul 1, 2025

Jeff T. Blau And Ty Newland Acquire Mixed-Use Campus In Los Angeles For $120 Million
SOLDMixed-use

Jeff T. Blau And Ty Newland Acquire Mixed-Use Campus In Los Angeles For $120 Million

3880 Mission Road

$120,000,000

$66/SF

Building Size

1,800,000 SF

Asset Type

Mixed-use

Closing

Jun 30, 2025

About this deal

AI

A mixed-use property located at 3880 North Mission Road in Los Angeles has been sold for $120,000,000. The asset spans 39 acres and encompasses 1,800,000 square feet, with a price per square foot set at $67. The site is notable for previously housing the Forever 21 headquarters.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $120,000,000
  • Address: 3880 North Mission Road
  • Market: Los Angeles
  • Acres: 39
  • Square Feet: 1,800,000
  • Price Per Square Foot: $67
  • Buyer: Jeff T. Blau - Related Companies
  • Buyer: Ty Newland - Newland Capital Group
  • Seller: Stephen A. Schwarzman - Blackstone
  • Seller: Jeffrey Worthe - Worthe Real Estate Group
  • Brokers: Barbara Perrier & Mike Longo - CBRE

The transaction involves key players in the real estate sector, with Related Fund Management and Newland Capital Group acquiring the asset. Their immediate plans include a significant redevelopment project titled Mission Crossing, which will feature the construction of a new industrial facility alongside extensive outdoor storage and a reimagined flex industrial building. This redevelopment is set to commence within two weeks with an expected completion date in July 2026.

On the Map

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$120,000,000

$66/SF

Mixed-use

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Players

Michael Longo

CBRE

Broker

$1.9B

vol

34 deals

Broker
CBRE
CBREBrokerage

Jeff T. Blau

Related Companies

Buyer

$2.2B

vol

23 deals

Buyer
Related Companies
Related CompaniesBuyer
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Los Angeles Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $66 per square foot on a published $120M for 1,800,000 square feet (2025).

Visit Michael (Mike) Longo to view all their deals.

Browse Los Angeles mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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