January 2, 2025 Breaking News, Latest News, and Videos

Euro Investment Firm Buys Santa Monica Whole Foods Property for Over $50 Million

Whole Foods Santa Monica property sold to Deka Group

By Dolores Quintana

One of Europe’s largest investment firms has purchased a plot of land in Santa Monica containing a Whole Foods for over $50 million. 

Tooley Interests, a real estate developer based in Santa Monica, sold the property to Deka Immobilien, the Deka Group’s division that handles real estate properties management for the company for $54.3 million as reported by Commercial Observer.com. The store is located at 2121 Cloverfield Boulevard and is 29,064 square feet of commercial space that houses the Whole Foods Market. Bayerische Landesbank financed $26 million of the cost and Deka used its Deka-ImmobilienNordamerika real estate fund to complete the purchase. 

This property is the second asset added to Deka’s holdings on the West Coast after their acquisition of the Rockwood Lincoln office building in Downtown Los Angeles in late 2020. Before these purchases, Deka Immobilien, one of Europe’s biggest real estate investment firms, only had property holdings on the East Coast. 

Driss Oualkadi, the president of Deka-Immobilien, highlighted the reason for the purchase of the property by commenting, as quoted by Commercial Observer.com, “Since grocery stores are experiencing record sales, we were drawn to this stand-alone, single-tenant Whole Foods Market, as it is the perfect investment for a long-term investor.

The property was bought by Tooley Interests back in 2013 and after putting in a substantial effort to redevelop the space, Whole Foods leased the space in 2017  and has remained there since. 

The sale was brokered by JLL’s Gleb Lvovich, Geoff Tranchina, Bryan Ley and Dan Tyne. Lovich said, as quoted by Commercial Observer.com, “The sale of Whole Foods Santa Monica demonstrates continued demand for net-leased real estate in strong locations with credit and a durable business.” 

During the pandemic, real estate investors have put their trust and their money into investing in grocery store properties as seen with the sale of a Westside Amazon Fresh store that was purchased for $55 million last year.

<>Related Posts

French-Inspired Palisades Restaurant to Close After Six Years

January 2, 2025

January 2, 2025

The Menu Featured Dishes That Ranged From French Onion Soup to Locally Inspired Creations Like Radiatore With Lamb Bolognese The...

Suspect in Downtown Target Shooting Apprehended After Hourslong Standoff

January 2, 2025

January 2, 2025

The Arrest Came Less Than 24 Hours After a Shooting at the figat7th Shopping Mall That Left Two Target Employees...

Jennifer Smith Re-Elected as SMMUSD Board President, Laurie Lieberman Named Vice President

January 2, 2025

January 2, 2025

The Board Also Extended a Thank-You to Outgoing Vice President Jon Kean for His Service At its annual organizational meeting,...

Brentwood Beat: Maria’s Italian Kitchen to Move from Brentwood After 52 Years

January 1, 2025

January 1, 2025

I’m ill.   Maria’s Italian Kitchen is leaving Brentwood Village and will be gone by the end of 2024. Like many...

Chef Nobu Debuts Luxurious Gold Standard Roll for Golden Globes® Celebration

January 1, 2025

January 1, 2025

Indulge in a Limited-Time King Crab Roll Adorned With Gold Flakes and Caviar In honor of Chef Nobu Matsuhisa’s return...

110 Years Ago, Charlie Chaplin Debuted The Iconic “Tramp” Character From Venice Beach

December 30, 2024

December 30, 2024

The 1914 short Kid Auto Races at Venice introduced the iconic character that would become synonymous with silent film, sparking an international...

Gov. Newsom Touts New 2025 Laws to Strengthen Civil Rights and Inclusivity

December 30, 2024

December 30, 2024

The Laws Cover Various Aspects of Society, From Education to Property California Governor Gavin Newsom, in a recent news release,...

LAPD Seeks Additional Victims in West Los Angeles Sexual Assault Case

December 30, 2024

December 30, 2024

Hajhosseini Reportedly Pressured One Victim Into Consuming Alcohol, After Which She Lost Consciousness and Was Assaulted Detectives with the Los...

Santa Monica Gets Temporary Community Development Director

December 30, 2024

December 30, 2024

Yeo Has Been With the City of Santa Monica Since 2006, Starting as a Senior Planner and Eventually Leading the...

$75M Malibu Estate Hits Market on Coveted “Billionaire’s Beach”

December 29, 2024

December 29, 2024

The Home Offers Sweeping Views of the Queen’s Necklace, Palos Verdes, and Catalina Island A sprawling estate on Malibu’s exclusive...

UCLA Police Investigate Off-Campus Assault as Hate Crime

December 29, 2024

December 29, 2024

The Suspects Are Described as Four White or Middle Eastern Males in Their Early 20s The UCLA Police Department is...

(Video) At Vistamar School – Discover the way high school should be

December 29, 2024

December 29, 2024

Students achieve remarkable outcomes with our strong academics, small classes, andpersonalized approach. Our graduates don’t just attend college—they excel. Vistamar’sunique...

HUD Report Reveals Record 18% Surge in U.S. Homelessness in 2024

December 29, 2024

December 29, 2024

Despite the Rise, Veteran Homelessness Hits Record Low The U.S. Department of Housing and Urban Development (HUD) released its 2024...

Film Review: The Brutalist

December 29, 2024

December 29, 2024

By Dolores Quintana Filled with grandeur as stark as the Brutalist architecture designed by László Tóth, The Brutalist is epic...

Santa Monica Man Arrested in Fatal Hit-and-Run of Vietnam Veteran

December 28, 2024

December 28, 2024

Suspect Faces Murder and Felony Charges; Police Recover Evidence Rod Sharif, a Santa Monica man, was arrested on December 27,...