Aaron Tofani Of ATE Real Estate Sells Retail Building In Long Beach For $9.9M

The property involved in this transaction is a retail building located at 5354 East 2nd Street, Long Beach, with a sale price of $9,900,000. The property spans 8,991 square feet and is situated on 0.3 acres. The market value is characterized by its position in Belmont Shore, an area known for dedicated parking and strong foot traffic.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,900,000
• Square Footage: 8,991
• Address: 5354 East 2nd Street
• Market: Long Beach
• Seller: Aaron Tofani - ATE Real Estate
• Brokers: Bill Asher, Kevin Fryman & Jeff Lefko - Hanley Investment Group; Nathan Holthouser - Coastal Commercial

This transaction was facilitated by Hanley Investment Group and Coastal Commercial, who represented the seller in the deal. The sale involved a historic, fully renovated retail building, which houses South of Nick’s restaurant and KAL Capital, and was completed through a 1031 exchange to a private investor.