Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

California  + Los Angeles  + Retail  | 

Bolour Exits Long-Term Hold on Hermosa Beach Mixed-Use

Bolour Associates Inc. completed the $33.5-million sale of a mixed-use beachfront portfolio totaling nearly one acre of land and 415 feet of beach frontage along The Strand and Pier Avenue in Hermosa Beach.

The disposition marks the culmination of a long-term strategic assemblage, renovation and lease-up for 18,551 square feet of retail on the Hermosa Beach Strand and Pier, and 3,807 square feet in nine adjacent short-term rental units.

Bolour purchased the retail asset, located at 11 – 29 Pier Ave. and 1250 – 1272 The Strand, in May 2013. The company purchased the adjacent rental property at 20 – 32 13th St. in September 2017.

“This is a standout property situated on one of Southern California’s most sought-after beachfront corridors and offering multiple avenues for value enhancement, including renovation and redevelopment and market-rate adjustments,” said Bolour CEO Mark Bolour.

JLL’s Tim Kuruzar, Bryan Ley, Brendan McArthur and Tess Berghoff served as investment advisors in the Strand and Pier transaction. Jeff Sause and Chad Morgan of JLL served as debt advisors.

Connect

Inside The Story

Bolour Associates

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action