Former Toys “R” Us at 16040 Sherman Way (Credit: Google Maps, Pixabay)
When the top retail sale goes from Louis Vuitton to Toys “R” Us, you know a dropoff is coming.
Los Angeles County’s top retail sales in April combined for nearly $55 million last month, a big fall from March’s total of $316 million.
Last month, the top sale in the county totaled $17 million, when a former Toys “R” Us was unloaded following the chain store’s bankruptcy filing.
In March, Louis Vuitton parent company accounted for more than a third of the $316 million total with its $110 million acquisition of a Rodeo Drive property in Beverly Hills.
The April retail sales numbers were compiled from property records by Real Capital Analytics and PropertyShark.
1. 16040 Sherman Way – Vallarta Supermarkets | $17.2M
A bankruptcy sale topped the charts last month, when the former Toys “R” Us was sold for $17.2 million. Vallerta Supermarkets acquired the roughly 124,200-square-foot property, records show. The property is located in Van Nuys. The sale was prompted by the Toys “R” Us bankruptcy, which was announced earlier this year. The toy retailer will shutter all 735 U.S. stores shortly after the announcement.
2. 28501 Canwood Street – Catherine K. Kim | $12.5 million
This outlet center in Agoura Hills sold for $12.5 million last week to an entity controlled by Catherine K. Kim. Adler Realty Investments sold the property, which spans 119,300 square feet spread across three buildings. Tenants include Ethan Allen, Sit N Sleep and My Revolution Fitness. Kim, which is tied to a mattress company called Sleepland and a general contractor named Bestland, obtained an $18.9 million acquisition loan from Evertrust Bank.
3. 4000 Arden Drive – Sukut Construction | $10.9 million
A 10,600-square-foot DMV-occupied building sold for $10.9 million to Sukut Construction last month, claiming the third spot on the list. Xebec Realty Partners was the seller. The El Monte-based property is one of the three privately-owned DMV offices in Los Angeles, and is fully leased until 2031.
4. 5831 Firestone Boulevard – Pak Trust | $10 million
A 1987-built retail property at 5831 Firestone Boulevard in South Gate sold for $10 million last month to a family trust controlled by Kwang and Kyong Pak. The seller was Bank of the West. The property, named Shops at El Paseo Center, includes retailers Dollar Tree, Sprint, 85 Degree Bakery and an insurance company, within 24,000 square feet.
5. 1063 East Avenue J – Yong Ho Lee | $4.35 million
An entity controlled by an individual named Yong Ho Lee paid $4.35 million for a 9,300-square-foot property at 1063 East Avenue J in Lancaster. A family trust connected to Kurt Miner and Michelle Lord-Miner sold the two-building retail campus, which was built in 1973. Tenants include Dragon Garden and American Tire Depot.
Powered by WPeMatico