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California  + Los Angeles  + Retail  | 

Hanley, SRS Arrange $21M Sale of DTLA Ralphs

Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners closed the $20.9-million sale of a 54,948-square-foot Ralphs-anchored ground-floor retail component at Market Lofts, a mixed-use condominium development in Downtown Los Angeles. Hanley SVP Lee Csenar and SRS Capital Markets EVP Carlos Lopez represented the seller, MDC Realty Advisors of Denver, and the buyer, Mushmel Properties of Los Angeles.

“We generated multiple qualified offers from 1031 exchange investors, private family offices and institutional investors, ultimately selecting a private, all-cash buyer with whom we had previously transacted,” said Csenar. “The buyer agreed to a 15-day due diligence period, giving the seller strong confidence in closing.”

Completed in 2007, Ralphs at Market Lofts is located at 645 W. 9th St. and was the first grocery store to open in Downtown Los Angeles since the 1950s. Developed by Lee Homes and CIM Group and designed by KTGY, the seven-story mixed-use Market Lofts community features 267 residential lofts, built above ground-level retail and a subterranean parking garage.

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Hanley's Csenar

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
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