**Hanley and SRS Arrange $20.9M Sale of Ralphs at Market Lofts in Downtown LA**
Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners have successfully closed the $20.9 million sale of a Ralphs-anchored retail property located at the ground floor of Market Lofts, a mixed-use condominium development in Downtown Los Angeles. The 54,948-square-foot retail space was sold by MDC Realty Advisors of Denver and purchased by Los Angeles-based Mushmel Properties.
Hanley Senior Vice President Lee Csenar and SRS Capital Markets Executive Vice President Carlos Lopez represented both parties in the transaction. According to Csenar, the sale attracted multiple offers from a diverse group of buyers, including 1031 exchange investors, private family offices, and institutional investors.
“We generated multiple qualified offers from 1031 exchange investors, private family offices and institutional investors, ultimately selecting a private, all-cash buyer with whom we had previously transacted,” Csenar said. “The buyer agreed to a 15-day due diligence period, giving the seller strong confidence in closing.”
Originally completed in 2007, Ralphs at Market Lofts—located at 645 W. 9th Street—was the first grocery store to open in Downtown Los Angeles since the 1950s. Developed by Lee Homes and CIM Group, and designed by KTGY, the mixed-use seven-story development includes 267 residential loft-style units built above retail space, with a subterranean parking structure.
This high-profile transaction underscores continued investor interest in grocery-anchored retail centers located within vibrant urban communities.
