Hanley Investment Group Real Estate Advisors has arranged the acquisition of a Walgreens-anchored shopping center in Lynwood, where a tight 1031 exchange timeline required a rapid closing process. The 39,146-square-foot retail property, known as Atlantic Crossing, is located at 10901–10927 Atlantic Ave. and 4351 E. Imperial Hwy. The center sold for $15 million.
Hanley Investment Group vice president Ayda Kach represented the buyer, described as an all-cash, longtime client of the firm. The purchaser is a privately held retail real estate investment firm and developer based in Los Angeles. The buyer elected to proceed without financing, enabling an all-cash acquisition structure that helped support the accelerated schedule tied to the 1031 exchange deadline.
The seller, The Bilak Companies of Beverly Hills, opted to market and trade the Walgreens-anchored center through Newmark Retail Capital Markets. Newmark's capital markets team of Glenn Rudy, Rob Ippolito, and Pete Bethea represented The Bilak Companies in the disposition, coordinating with Hanley Investment Group to complete the transaction within the short time frame.
Kach noted that the assignment required a fast and disciplined effort from all parties to meet the buyer's 1031 deadline. According to Kach, Hanley Investment Group guided the buyer through a detailed due diligence process while maintaining deal momentum from letter of intent through closing. That process included coordinating inspections, document review, and other key diligence steps on an expedited schedule.
The acquisition was completed in 20 days, reflecting both the buyer's readiness to deploy capital and the willingness of the seller and brokerage teams to align with the compressed timeline. The all-cash structure removed financing contingencies, which can be a critical factor in closing within a 1031 exchange window.
Hanley Investment Group and Newmark Retail Capital Markets worked together to manage communication and resolve issues quickly, which Kach said contributed to a smooth closing. The transaction demonstrates how experienced transaction teams can navigate the constraints of a 1031 exchange when a buyer must identify and close on a replacement property within a limited period.
The acquired asset is characterized as a strong, necessity-based retail center, with Walgreens serving as the anchor tenant. Necessity-focused retail has remained a target for many private investors seeking consistent foot traffic and daily needs spending, particularly when anchored by a national pharmacy brand. While specific lease terms and tenant rosters were not disclosed, the presence of Walgreens as the anchor is a key component of the property's positioning.
Overall, the sale of Atlantic Crossing highlights continued investor interest in stabilized, necessity-oriented retail centers and underscores the role of all-cash buyers in executing on time-sensitive 1031 exchange strategies. The transaction also reflects how specialized retail investment sales teams can compress due diligence and closing timelines when all parties are aligned around a clear deadline.
