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Competition Soars for Grocery-Anchored Retail

LOS ANGELES—JH Real Estate Partners buys the Hawaiian Gardens Town Center, a 124,645-square-foot grocery-anchored shopping center, for $33 million in a competitive transaction that drew multiple offers.

By Kelsi Maree Borland | Updated on May 07, 2015

LOS ANGELES—JH Real Estate has acquired the Hawaiian Gardens Town Center, a 124,645-square-foot grocery-anchored shopping center, from HP Investors for $33 million. The transaction was highly competitive and attracted multiple offers, illustrating the high investor demand for grocery-anchored retail.

“We had very strong interest from a variety of buyers including private investors, exchange buyers, institutional advisors and REITs,” CJ Osbrink, an associate director at HFF, tells GlobeSt.com. “The marketing process was very competitive generating multiple competitive offers as a result of the lack of grocery-anchored retail for sale in Southern California. The sales price matched the guidance provided to our client.” Osbrink represented the seller in the transaction along with his HFF colleagues senior managing director Ryan Gallagher and managing director Bryan Ley.

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