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Inglewood Plaza Fetches $27M

LOS ANGELES—CCPT IV and G3H Investments LLC each buy portions of the 101,329-square-foot shopping center from Howard Building LLC.

By Kelsi Maree Borland | Updated on October 02, 2014

LOS ANGELES—CCPT IV and G3H Investments LLC have purchased Inglewood Plaza from Howard Building LLC for a total of $27.5 million. The 101,329-square-foot shopping center sits on 6.43 acres with a Burlington Coat Factory as the anchor.

“The timing was planned as a part of our recommended business plan and strategy to the seller for the property when they purchased it,” Fred A. Sheriff, executive managing director at Charles Dunn Co., tells GlobeSt.com. “The hold period we recommended was about two years so the seller could take advantage of increases in scheduled rent, compressed CAP rates, and while loan interest rates remained favorable.” Sheriff represented the seller and buyer in the transaction along with his Charles Dunn Co. colleagues Darrell Levonian and Justin D. Mendelson. The sale received multiple offers from institutional and private investors within two weeks of the listing.

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