Los Angeles — A partnership between Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners has arranged the $20.9 million sale of the retail component at Market Lofts in downtown Los Angeles. The retail portion of the project is anchored by a 49,489-square-foot Ralphs grocery store located on the ground floor. Completed in 2007, Market Lofts features 267 condominiums with 54,948 square feet of total ground-floor retail space. Along with Ralphs, the retail portion of the property is leased to six additional tenants including The UPS Store, Supercuts, Simply Salads, Qwench Juice Bar, Honeymee and Momi Sushi.
Lee Csenar of Hanley Investment Group and Carlos Lopez of SRS Capital Markets represented the seller, Denver-based MDC Realty Advisors, and the buyer, Los Angeles-based Mushmel Properties, in the transaction.