“Optimus Purchases Hollywood Retail Center in Sale Mandated by Court”

"Optimus Purchases Hollywood Retail Center in Sale Mandated by Court"

Optimus Properties, LLC has recently acquired a retail strip center located at 5214-5232 W. Sunset Blvd in Hollywood. The property spans over 19,904 square feet and sits on a large lot of 42,076 square feet. This purchase was made through a court-ordered sale.

The center is anchored by a box retail space that was previously the top location for 99 Cents Only stores in terms of number of visits. It is also home to various service-oriented tenants, restaurants and soft-goods retailers with rents currently below market value.

In order to improve the property’s appeal and attract high-quality tenants, Optimus plans to make cosmetic upgrades such as new paint, storefronts and tenant signage programs.

According to K.Joseph Shabani , principal at Optimus Properties: “This acquisition marks our third purchase on Sunset Boulevard within two years.” He sees this as an excellent opportunity to expand their growing portfolio with a prime location that serves the surrounding neighborhood well due its great mix of tenants.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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