CIM Group Sells Market Lofts Retail for $19 Million

by Nate Hunter

Los Angeles — A Ralphs Fresh Fare supermarket anchors the retail portion of Market Lofts.

Los Angeles  —  MDC Realty Advisors USA Inc. has acquired the Market Lofts Retail, a 55,000-square-foot development in downtown Los Angeles, for approximately $19 million. The seller, CIM Group, built the property in 2007, which includes 267 condominiums above the ground-floor retail space. The retail portion is fully occupied and anchored by a 50,000-square-foot Ralphs Fresh Fare supermarket. Other tenants include Coffee Bean & Tea Leaf, Quiznos, Robeks, Simply Salad and The UPS Store. Carlos Lopez and Edward Hanley of Hanley Investment Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors, represented both the buyer and the seller in the transaction.

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