Beta Agency Completes $14M Sale of Lawndale Retail Center
Commercial real estate brokerage and advisory firm Beta Agency has completed the sale of Lawndale Plaza, a Smart & Final-anchored shopping center in Lawndale, CA. An undisclosed buyer purchased the property from a private shopping center owner for $14 million in a 1031 exchange.
“The buyer acquired Lawndale Plaza because of its strong operating history, stabilized income stream and excellent real estate fundamentals,” said Beta Agency’s Richard Rizika who represented the seller, along with the firm’s Vanessa Zhang. “This property satisfied the buyer’s second half of their 1031 exchange and is a nice addition to their shopping center portfolio.”
Lawndale Plaza is 100% occupied and consists of several national tenants including Subway, Wingstop, Panda Express and Wells Fargo, along with Smart & Final. The buyer in the transaction was represented by Adam Friedlander, also of Beta Agency, along with JLL’s Moon Lim.