LOS ANGELES-Chicago-based real estate investment firm L3 Capital has sold a retail investment property at 145 N. Robertson Blvd. in West Hollywood for $26.6 million to New York-based real estate investment firm Thor Equities. L3 Capital sold a two other retail investment properties last month on the nearby North Beverly Drive for $35 million to RREEF, GlobeSt.com reported in an earlier story.

Occupied by UK Clothing retailer Reiss, the two-story property has 12,400 square feet of retail space and is located in a prime Los Angeles retail district. “Sophisticated investors are seeing the tremendous upside to well-located luxury retail properties right now,” says Greg Schott, co-founder and managing principal of L3 Capital. “Premier locations continue to attract premiere tenants, and rents have been steadily increasing as a result. It's a great market to be a retailer, owner or investor.” L3 Capital purchased the property as an investment in July 2012 for $15.8 million.

L3 Capital focuses on $10 million to $100 million retail investments, like the those they have recently sold in Beverly Hills. There has also been an uptick in activity of retail shopping centers. GlobeSt.com reported in a recent story that construction has begun on the Juanita Tate Marketplace, a 77,096-square-foot outdoor retail center in South Los Angeles. The center will have several large anchor tenants and 12 smaller retail stores.