The fully leased retail property located at 8500 Sunset Boulevard in West Hollywood has been sold for nearly $30 million. The asset spans 37,900 square feet and is home to flagship stores for Fred Segal and Kith. The property was acquired by Regal Ventures, a New York-based investment firm, as part of their strategic focus on retail investments in major metros. The strong market fundamentals and limited supply in the sector due to factors such as higher interest rates and building costs make it an attractive investment opportunity for Regal Ventures.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $30,000,000
• Address: 8500 Sunset Boulevard, West Hollywood
• Market: West Hollywood
• Square Footage: 37,900
• Price per Square Foot: $792

Regal Ventures, the buyer in this transaction, is a New York-based investment firm specializing in retail investments in major metros. They have strategically acquired this fully leased retail property on Sunset Strip in West Hollywood for nearly $30 million. The seller, CIM Group, facilitated the sale of the 37,900-square-foot asset, which includes flagship stores for Fred Segal and Kith. The tight market conditions in the retail sector, driven by strong market fundamentals and limited supply, make this investment favorable for Regal Ventures.