**Bolour Associates Sells Mixed-Use Beachfront Portfolio for $33.5M in Hermosa Beach**
Bolour Associates Inc. has completed the $33.5 million sale of a prime mixed-use beachfront portfolio in Hermosa Beach. The property spans nearly one acre of land with 415 feet of beach frontage along The Strand and Pier Avenue.
This sale marks the conclusion of a long-term strategic approach by Bolour, which involved assembling multiple properties, renovating them, and securing tenants. The portfolio includes 18,551 square feet of retail space along The Strand and Pier Avenue, as well as nine adjacent short-term rental units totaling 3,807 square feet.
Bolour acquired the retail property, located at 11–29 Pier Ave. and 1250–1272 The Strand, in May 2013. The adjacent rental property, at 20–32 13th St., was purchased in September 2017.
“This is a standout property situated on one of Southern California’s most sought-after beachfront corridors, offering multiple opportunities for value enhancement, including renovation, redevelopment, and market-rate adjustments,” said Mark Bolour, CEO of Bolour Associates.
JLL’s Tim Kuruzar, Bryan Ley, Brendan McArthur, and Tess Berghoff served as investment advisors for the transaction, while Jeff Sause and Chad Morgan of JLL provided debt advisory services.
