Ralph's Center Sells for $17.6 Million

Costar

Seven Forty Management Inc., taking title as Arvel Redondo LLC, acquired the Ralph's Center at 1413 Hawthorne Blvd. in Redondo Beach from Weingarten Realty Investors for $17.6 million, or about $252.50 per square foot.

The property consists of 69,649 square feet and was recently remodeled. The center is in the heart of the dense and affluent South Bay area within the Hawthorne Boulevard corridor. This was an off-market transaction and part of a 1031 exchange for the buyer.

Reza Etedali of REZA Investment Group Inc. represented the buyer as well as the seller.