Rancho Palos Verdes, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $24.5 million sale of Western Plaza, a 28,190-square-foot neighborhood center located in Rancho Palos Verdes. Jeff Lefko of Hanley Investment Group represented the seller, West Hive Capital, in the transaction. Sheila Alimadadian of Marcus & Millichap represented the buyer, Aria Investments.
After acquiring Western Plaza in 2024 for $8 million, West Hive Capital completed a full-scale redevelopment of the property. Renovations featured a complete exterior façade modernization, upgraded building systems, parking lot enhancements, an improved tenant mix and the addition of a 4,000-square-foot outdoor dining plaza. Current retailers and restaurants at the center include O’Reilly Auto Parts, The Habit Burger Grill, Urbane Café, Mattress Firm, Pacific Dental, Piccinni Italian, Alibaba Mediterranean, Pure Bean Coffee and Koi Ramen.