Optimus Acquires Hollywood Retail Center in Court-Ordered Sale

Optimus Properties, LLC purchased 5214-5232 W. Sunset Blvd., a 19,904 square-foot retail strip center in Hollywood, situated on a 42,076-square-foot lot, via a court-ordered sale. The center is shadow-anchored by a box retail space that was formerly 99 Cents Only’s top location in the country by number of visits.

The property is currently occupied by a mix of service-oriented tenants, restaurants and soft-goods retailers with rents significantly below market. Optimus plans to update the property with cosmetic upgrades, which include new paint, storefront, tenant signage program, and façade work to improve the curb appeal and attract quality tenants.

“This is the third retail property we purchased on Sunset Boulevard in less than two years,” said K. Joseph Shabani, principal at Optimus Properties. “We saw this as a great opportunity to add to our rapidly growing retail portfolio with a center in a prime area with a great tenant mix that serves the surrounding neighborhood well.”

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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).

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