July 16, 2021 9:00 AM
Newmark Knight Frank (“Newmark”) announces it has arranged the sale of Eagle Rock Plaza, a 466,157-square-foot regional shopping center in Los Angeles, California. The property traded for $76 million.
Newmark’s Vice Chairmen Bill Bauman and Pete Bethea, Executive Managing Director Kyle Miller, Senior Managing Director Glenn Rudy and Managing Director Anthony Muhlstein represented the seller, LNR. The buyer is a joint venture of Eastern Real Estate and Atlas Capital Group.
“Eagle Rock Plaza sits in a prime location within the Los Angeles market, with high visibility, excellent access and strong local demographics. There is tremendous opportunity to reposition this property in line with today’s evolving retail landscape. Eagle Rock Plaza will remain a hub that serves the needs of the community for years to come,” said Brian Kelly of Eastern Real Estate.
Bauman added, “Eagle Rock Plaza represents and incredible infill development opportunity in one of the most dynamic sub-markets in Los Angeles.”
The shopping center, anchored by Target, Macy’s, Seafood City and Fitness 19, is located at 2560, 2626 & 2700 Colorado Boulevard at the confluence of the 134 and 2 Freeways.
In recent years, Eagle Rock has experienced a renaissance of new businesses and an influx of families and professionals making it one of Los Angeles’ most attractive neighborhoods. Eagle Rock is conveniently located in proximity to major employment hubs including Downtown Los Angeles, Glendale, Pasadena, Studio City and Burbank.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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