The Park at Cross Creek, a 100% leased Malibu retail center anchored by a custom-built Whole Foods Market, has traded to a private investor for an undisclosed sum. The seller was a partnership of the Gerschel Family and Soboroff Partners, which developed the 39,350-square-foot center at 23401 Civic Center Way.

Newmark’s Bill Bauman, Kyle Miller and Jay Luchs represented both the buyer and seller. The property will be managed and operated by PacificWest Asset Management Corporation, headquartered in Costa Mesa.

Opening in 2019, The Park at Cross Creek was the first new retail center to open in Malibu in 35 years. In addition to the 24,529-square-foot Whole Foods Market, other tenants on the roster include Blue Bottle Coffee, Howdy’s Sonrisa Café, Barefoot Dreams and a Tesla showroom.

“This is definitely a bittersweet moment as we say goodbye to Malibu,” said Edouard Gerschel of the Gerschel family, which currently owns properties in Colorado, Connecticut and New York City and previously owned properties in Northern California. “We are immensely proud of how we transformed what was a vacant six-acre dirt lot into this beautiful amenity and appreciate the community’s continued patronage.”