Bellflower and Gardena, Calif. — SBH Real Estate Group Inc. has acquired a freestanding retail building located in Bellflower and a retail center located in Gardena for an aggregate price of $6.2 million.
The 11,556-square-foot freestanding retail building was acquired for $2.4 million in an off-market transaction. Prior to closing on the property, SBH signed a ten-year lease with Save A Lot for the property. Extensive renovations are underway at the site, including a new roof, new HVAC system and upgrades to both the electrical system and parking lot.
The 24,500-square-foot shopping center, located at 15015 Crenshaw Blvd. in Gardena, was acquired for $3.8 million in an all-cash transaction. Elizabeth Clark and Chris Chasin of BRC Advisors represented the sellers, Kenny and Susie Lee, and SBH in the transaction.