Retail Watchers

Speaking of Calabasas if you happen to have $40 million in the bank you can buy the shopping center:
https://www.crexi.com/properties/156734 ... -calabasas

And speaking of Century City, that store is not setting record sales by any means. One of my best friends is a manager in that store. It does very well but not as well as it did in it's heyday when it was the number one store in the chain and for a couple years the highest volume supermarket in the county.

klkla wrote: ↑December 17th, 2018, 6:00 pm Speaking of Calabasas if you happen to have $40 million in the bank you can buy the shopping center:
https://www.crexi.com/properties/156734 ... -calabasas

And speaking of Century City, that store is not setting record sales by any means. One of my best friends is a manager in that store. It does very well but not as well as it did in it's heyday when it was the number one store in the chain and for a couple years the highest volume supermarket in the county.

Pacific Palisades Gelson's is for sale for $60 million. https://www.crexi.com/properties/156751 ... -palisades

Surprising that West Hollywood is only going for $28 million. https://www.crexi.com/properties/156648 ... -hollywood

Eddie Rojas is a hard working store director (and big Dodgers fan). Ask him how busy his store has been as of late. Incredibly busy.

CalItalian wrote: ↑December 17th, 2018, 10:56 pm Surprising that West Hollywood is only going for $28 million.

Not really.

Pacific Palisades price per sq. ft. $2,017.01
West Hollywood price per sq. ft. $1,570.12
Calabasas price per sq. ft. $627.07

klkla wrote: ↑December 18th, 2018, 5:15 pm

CalItalian wrote: ↑December 17th, 2018, 10:56 pm Surprising that West Hollywood is only going for $28 million.

Not really.

Pacific Palisades price per sq. ft. $2,017.01
West Hollywood price per sq. ft. $1,570.12
Calabasas price per sq. ft. $627.07

Actually, yes really. My nephew is the broker (both leasing agent and broker for sale) for the soon to be former Circus of Books down the street from Gelson's West Hollywood. This is a bargain considering the price per square ft. for sale. Rents run about 20% higher in WeHo vs. Pacific Palisades (per sq. ft.). WeHo has much more potential for redevelopment 20 years down the line (and they should start in 10 years with plans based on how long approval and lawsuits take). There are already multiple offers for Gelson's West Hollywood. None for Pacific Palisades.

Let's remember to keep the conversation civil. folks. Thanks!

Update: Back in December of last year it was reported that the three properties owned by the company were for sale.

Pacific Palisades was listed for $60 million and sold for $51 million in April (85 % of asking)
West Hollywood was listed for $28 million and sold for $25 million in May (88% of asking)

I haven't heard anything about the Calabasas shopping center, yet