Mark Bolour & Kevin Saghian Of BOLOUR Associates Sell Mixed-Use Property In Hermosa Beach For $33.5M

The property asset involved in this transaction is a mixed-use development located at 11-29 Pier Avenue, 1250-1272 The Strand, and 20-32 13th Street in the Hermosa Beach market. The sale price of the property was $33,500,000, with a total square footage of 22,358, resulting in a price per square foot of $1,498.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $33,500,000
• Sale Date: 02/14/2025
• Seller: Mark Bolour & Kevin Saghian - BOLOUR Associates
• Seller's Representatives: Tim Kuruzar & Bryan Ley - JLL

This sale underscores the strategic focus of BOLOUR Associates on supporting the advancement of significant infill parcels across the U.S. The company seeks to optimize long-term returns through value-enhancing opportunities. They are involved in integrated real estate finance, investment, and development, specifically targeting emerging and transit-oriented neighborhoods.