$18M Mixed-Use Property Sold On Hermosa Avenue To 1221 Hermosa Ave LLC

The mixed-use property located at 1229 Hermosa Avenue in Hermosa Beach has been sold for a total price of $18,000,000. The property spans across 23,000 square feet and has a price per square foot of $782. The transaction took place on August 14, 2019. The seller of the property was Federal Realty Investment Trust, while the buyer was 1221 Hermosa Ave LLC.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $18,000,000
• Address: 1229 Hermosa Avenue
• Market: Hermosa Beach
• Square Footage: 23,000
• Price per Square Foot: $782

The sale of this mixed-use property was facilitated by the collaboration of several brokers. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Sean Fulp, Ryan Plummer, Brad Feld, David Ghermezian, Amir Araghi, and Jonathan Dadourian from Newmark Knight Frank represented the buyer and seller in this transaction.