Wave Staff Report
LYNWOOD — A nationally recognized retail investment sales brokerage firm is representing the buyer of a Walgreens-anchored, 39,146-square-foot center located at 10901–10927 Atlantic Ave. and 4351 E. Imperial Highway. The purchase price was $15 million.
Hanley Investment Group Real Estate Advisors Vice President Ayda Kach represented the all-cash buyer, a long-time client and a privately held retail real estate investment firm and developer based in Los Angeles. The seller, the Bilak Companies of Beverly Hills, was represented by Newmark Retail Capital Markets, including Glenn Rudy, Rob Ippolito, and Pete Bethea.
“Atlantic Crossing required a fast and disciplined effort to meet our client’s 1031 deadline, and we were able to complete the acquisition in 20 days,” Kach said. “Our team guided the buyer through a detailed due diligence process and kept the transaction moving efficiently. … The collaboration between all parties allowed us to deliver a smooth all-cash closing on a strong, necessity-based retail asset.”
Built in 2003, Atlantic Crossing is 100% occupied and features a strong lineup of national and regional tenants, including Walgreens, Starbucks, Panda Express, Subway, PNC Bank, AltaMed Health Services, Diamond Dental, Fiesta Auto Insurance, Tutti Frutti, and La Carniceria Meat Market. The center sits on 3.63 acres at the intersection of Imperial Highway and Atlantic Avenue, less than a half mile from the Long Beach (710) Freeway.
The property serves one of the most densely populated areas in Los Angeles County, with nearly one million residents within a five-mile radius and a daytime population exceeding 275,000. Atlantic Crossing’s tenant mix is designed to meet daily consumer needs in a retail market with a weighted average tenure exceeding 16 years and nearly 60% of tenants operating as first-generation occupants.
Atlantic Crossing ranks in the 83rd percentile nationally for visitation among comparable retail centers, supported by adjacency to a top-performing El Super grocery store that attracts more than one million customers annually and generates an estimated $35 million in annual sales. Individual tenants at Atlantic Crossing also demonstrate strong performance within their respective chains in California, including Starbucks (83rd percentile), Panda Express (73rd percentile), and PNC Bank (89th percentile).
Atlantic Crossing also is located within one mile of St. Francis Medical Center, one of the largest acute-care hospitals in Southeast Los Angeles, comprising 384 beds, employing more than 2,000 people, and serving more than 84,000 patients annually.
“Even in a shifting capital markets environment, investors are actively targeting assets with strong fundamentals, reliable foot traffic, and proven tenant durability,” Kach said. “Atlantic Crossing exemplifies the type of stabilized, necessity-driven retail that continues to attract capital and reinforce long-term confidence in the sector.”
