CBRE Arranges Sale of Nine Retail Locations Across California and in Florida

CBRE today announced the sale of nine individual Big Lots store locations to two buyers, Robhana Group and Reliable Properties. CBRE’s retail investment property sales team led by Alex Kozakov and Patrick Wade represented the seller, a large institutional investor in the transaction.

Located across California and one in Miami, within established corridors, each property is surrounded by numerous national retail and industrial users with sizable populations and attractive demographic profiles.

Robhana Group acquired four locations totaling 117,494 sq. ft. for $23.6 million including:

• 610 Las Tunas Drive, Arcadia, CA
• 2900 W. Rosecrans Ave., Gardena, CA
• 3003 W. Manchester Blvd., Inglewood, CA
• 1410 E. Plaza Blvd., National City, CA

Reliable Properties purchased the additional five locations, totaling 125,439 sq. ft for $27.1 million, including:

• 17575 Foothill Blvd., Fontana, CA
• 12550 Central Ave., Chino, CA
• 1815 W. Slauson Ave., Los Angeles
• 299 Borchard Drive, Ventura, CA
• 2100 SW 27th Ave., Miami, FL

“These proven, long-standing retail locations have demonstrated strong store performance and encompass prime retail real estate in excellent investment markets with strong fundamentals,” said Mr. Wade.

The retail locations are part of a 25-property sale and leaseback portfolio acquired by a large institutional investor in 2023 with Mr. Kozakov and Mr. Wade representing the seller, Big Lots, in that transaction.

“We were thrilled by the opportunity to individually market these retail locations acquired by a large institutional investor from Big Lots,” said Mr. Kozakov. “The properties provide attractive lease structures and were located in strong infill markets, which attracted several qualified bidders from across the country.”