CBRE Facilitates Sale of Nine Big Lots Stores in Southern California and Florida to Two Buyers
The sale of nine individual Big Lots store locations in Southern California and Florida has been successfully arranged by CBRE, with two buyers, Robhana Group and Reliable Properties. Led by retail investment property sales experts Alex Kozakov and Patrick Wade, CBRE represented the seller – a large institutional investor.
Robhana Group acquired four locations for $23.6 million, totaling 117,494 square feet. These include: 610 Las Tunas Dr., Arcadia; 2900 W. Rosecrans Ave., Gardena; 3003 W. Manchester Blvd., Inglewood; and 1410 E. Plaza Blvd., National City.
Reliable Properties purchased the remaining five locations for $27.1 million, totaling 125,439 square feet.This includes:17575 Foothill Blvd., Fontana;12550 Central Ave.; Chino1815 W.Slauson Ave.Los Angeles299 Borchard Dr.and2100 SW27thAve.Miami.
According to Wade,”These prime retail real estate properties have consistently shown strong store performance in excellent investment markets with solid fundamentals.” The sale is part of a larger portfolio consisting of25 properties that were sold or leased back to a large institutional investorin2023.KozakovandWade acted as representatives for the seller,BigLots,in this transaction.
