CBRE Arranges Sales of Nine Big Lots to Two Buyers
CBRE arranged the sale of nine individual Big Lots store locations in Southern California and Florida to two buyers, Robhana Group and Reliable Properties. CBRE’s retail investment property sales team led by Alex Kozakov and Patrick Wade represented the seller, a large institutional investor.
Robhana Group acquired four locations totaling 117,494 square feet for $23.6 million, including: 610 Las Tunas Dr., Arcadia; 2900 W. Rosecrans Ave., Gardena; 3003 W. Manchester Blvd., Inglewood; and 1410 E. Plaza Blvd., National City.
Reliable Properties purchased the additional five locations, totaling 125,439 square feet, for $27.1 million, including: 17575 Foothill Blvd., Fontana; 12550 Central Ave., Chino; 1815 W. Slauson Ave., Los Angeles; 299 Borchard Dr.; and 2100 SW 27th Ave., Miami.
“These proven, longstanding retail locations have demonstrated strong store performance and encompass prime retail real estate in excellent investment markets with strong fundamentals,” said Wade. The retail locations are part of a 25-property sale-leaseback portfolio acquired by a large institutional investor, with Kozakov and Wade representing the seller, Big Lots, in that 2023 transaction.
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).