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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
- ◦Sale/Acquisition


