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California  + Los Angeles  + Office  | 

Federal Realty Divests Neo-Classical Building in Hermosa Beach

Federal Realty Investment Trust divested The Bijou Building, a 23,172-square-foot, three-story mixed-use office/retail building located in downtown Hermosa Beach, CA. The buyer in the $18-million transaction was an entity called 1221 Hermosa Ave, LLC.

Located at 1221 Hermosa Ave., the property was originally developed in 1923 as the Metropolitan Theater. This Neo-Classical style building was upgraded to attract a modern tenant mix and is currently 94% occupied by Chase Bank, Beach City Capital, Steel Partners and Bar Method, among others.

NKF’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Sean Fulp, Ryan Plummer and Brad Feld represented the seller. NKF’s David Ghermezian, Amir Araghi and Jonathan Dadourian advised the buyer. David Milestone and Brett Green of NKF’s Debt and Structured Finance group handled the financing on behalf of the buyer.

“This asset represented a prime opportunity for an investor to own an historical, adaptive reuse property that is an irreplaceable fixture within downtown Hermosa Beach,” said Plummer.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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