West Hive Capital Nets $24.5M in Sale of Western Plaza Retail Center [Los Angeles Times (CA)]
O'Reilly Automotive, Inc. (ORLY)
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Source: Los Angeles Times
It acquired the underperforming property in 2024 for $8.4 million. The price reflected a comprehensive renovation program that included a complete exterior façade modernization, upgraded building systems, and site and parking improvements that included the addition of a new 4,000-square-foot outdoor dining plaza designed to support the center's food and beverage tenants. The firm also re-merchandised the tenant mix to better align with daily needs and service-oriented retail demand in the surrounding community. “We felt the only way to do it right was to improve the things that actually mattered, like upgrading utilities and parking, instead of just putting lipstick on it,” said Kyle Gorman , co-founder and general partner of West Hive Capital, in a statement. “We were the new kids on the block when we took this on, but hopefully taking it cradle to grave reflects what we are capable of and the standards we plan to bring to every redevelopment moving forward.” New tenants secure
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