March 31, 2025 Breaking News, Latest News, and Videos

Cypress Equity Investments Acquires Santa Monica Retail Center for $7M

The Retail Center Was Sold for 274% Above the Santa Monica Market Average

Cypress Equity Investments has acquired a prime retail center at 2031-2037 Wilshire Blvd. for $7 million. The purchase of the 3,149-square-foot property, situated on a 6,970-square-foot parcel at the corner of Wilshire Blvd. and 21st Street, significantly enhances CEI’s presence in Santa Monica.

The acquisition, handled off-market by Kennedy Wilson Brokerage’s President Ed Sachse and Senior Vice President Christine Deschaine on behalf of Auerbach Realty Holdings, adds to CEI’s holdings in the area. CEI already owns adjacent properties at 2025 Wilshire Blvd. and 1152 21st Street, creating a combined 25,457-square-foot assemblage on a newly zoned thoroughfare.

“Cypress was the ideal buyer for this asset,” said Sachse. “I’m pleased we were able to facilitate a sale that gave our client the value they were seeking for their long-held property.” Auerbach Realty Holdings had owned and operated the center for over four decades.

The retail center, known for its daily needs shopping offerings, was sold for $2,222 per square foot—274% above the Santa Monica market average of $810 per square foot for retail properties, according to CoStar.

In anticipation of the site’s redevelopment, the Kennedy Wilson Brokerage team also assisted in relocating Noma Sushi, a beloved neighborhood restaurant that had been operating at the property since 1982. “We were able to support Noma in finding a new location in the immediate trade area, ensuring continued patronage by their regular customers,” Deschaine said.

<>Related Posts

Palisades Youth Soccer Team Fundraises to Compete in Sweden Tournament

March 31, 2025

March 31, 2025

The team is raising funds through GoFundMe, with donations aimed at covering travel costs, accommodations, and fees A youth soccer...

Seven-Bedroom Venice Pad on Shell Ave. Hits Market at Under $7M

March 31, 2025

March 31, 2025

The home sits on a 5,740-square-foot lot and includes a two-car garage A newly listed property in Venice, featuring modern...

School of Rock Students Shine in Winter Performance Despite Widespread Fires

March 31, 2025

March 31, 2025

Summer Camp Registration Opens Now By Susan Payne Wildfire devastation wreaked havoc in areas of Los Angeles this January with...

City Approves Redevelopment Deal for Civic Auditorium

March 30, 2025

March 30, 2025

Officials said the next phase of the process includes site analyses to assess redevelopment viability The Santa Monica City Council...

SM.a.r.t. Column: Smart Home Systems and IoT Sensors: The New Frontline Against Wildfires

March 30, 2025

March 30, 2025

In a world where wildfire threats grow more ominous each year, a technological revolution is quietly unfolding at the intersection...

Former Married… With Children Actress Found Dead in Malibu Mansion

March 30, 2025

March 30, 2025

Homicide Detectives Review Death of CSI Miami and ER Actress Authorities are investigating the death of 58-year-old actress Cindyana Santangelo,...

New Deadline, More Access: LA County Debris Program Expands Scope, Extends Signup

March 30, 2025

March 30, 2025

Officials Broaden Scope to Help More Residents, Encourage Early Submission Los Angeles County officials have announced that FEMA has agreed...

Judge to L.A. Leaders: ‘I Am Your Worst Nightmare’ in Scathing Homeless Spending Rebuke

March 28, 2025

March 28, 2025

Carter Warns of Court Intervention if City and County Fail to Fix Broken Systems U.S. District Judge David O. Carter,...

Mayor Karen Bass Texts Sent During the Palisades Fire Have Been Released

March 28, 2025

March 28, 2025

Newly Recovered Texts Were Recovered After Sharp Criticism Over Deletions As wildfires swept through Los Angeles in early January, Mayor...

The Blue Notebook: Santa Monica Police Department Weekly Activity Report: March 9–15

March 28, 2025

March 28, 2025

Spike in Arrests, Drug Incidents, and Mental Health Calls in Santa Monica By Lewis Gilmour During the week of March...

Film Review: Snow White

March 28, 2025

March 28, 2025

FILM REVIEWSNOW WHITERated PG109 MinutesReleased March 21st  The Snow White fairy tale was compiled by the Brothers Grimm in the...

THIS WEEKEND: Palisades High to Host Benefit to Support Displaced Students

March 28, 2025

March 28, 2025

The evening aims to bring the Pali High community together while raising funds through sponsorships, donations, and an ongoing online...

March Madness Celebration Coming to Santa Monica Pier

March 28, 2025

March 28, 2025

The celebration will culminate in an evening viewing party at Patio 66, where fans can watch the games while enjoying...

Cinque Terre West Reopens in Venice After Palisades Closure

March 27, 2025

March 27, 2025

The Vinzonis have now joined The Colony, a food hall in Venice, to continue serving their signature dishes Nine months...

Film Review: A Working Man

March 27, 2025

March 27, 2025

By Dolores Quintana A Working Man is the second collaboration between director David Ayer and actor Jason Statham, in which...