Chartwell Real Estate Development completed the $27.8-million purchase of Park Pacific Shopping Center, a grocery-anchored retail property in the heart of Hermosa Beach. Located at 1100 Pacific Coast Hwy., the 49,911-square-foot shopping center is currently home to notable tenants including Trader Joe’s, Starbucks, El Pollo Inka, and Five-Below.
The site was owned by the Bacon family since 1949, first serving as Les Bacon and Son’s Ford car dealership before its conversion into a shopping center in 1977. Notable for its landmark Vetter Windmill at the corner of Pacific Coast Highway and Aviation Boulevard, the center sits at a gateway location in Hermosa Beach.
Daniel Tyner, senior director of the capital markets team at JLL, along with managing directors Gleb Lvovich and Geoff Tranchina, represented Chartwell.
“This transaction represented a rare opportunity to acquire a coastal grocery-anchored center in one of Los Angeles’ most desirable coastal submarkets,” said Tyner.
